- Cybin subsidiary achieved certain milestones as outlined in acquisition agreement
- Adelia brought numerous advantages to company
- Acquisition may advance “Cybin’s ability to innovate our psychedelic drug development program and diversify beyond major depressive disorder,” says CEO
Cybin’s (NEO: CYBN) (NYSE American CYBN) most recent acquisition, Adelia Therapeutics Inc., is already reporting success for the company (https://ibn.fm/ZtWL2). Cybin recently announced that the wholly controlled subsidiary had achieved certain milestones for the year as outlined in the acquisition agreement, resulting in Adelia shareholders receiving common shares in Cybin.
Cybin closed on the acquisition of Adelia late last year, with the company noting several key advantages gained through the transaction (https://ibn.fm/KZusD). In part, the benefits include novel psychedelic molecules that diversify Cybin’s development portfolio and provide access to multiple future indications; a range of technologies related to novel therapeutics, delivery methods and therapeutic regimens, including six patent applications; an expanding library of psychedelic derivative drug-development candidates, with the first lead compounds slated to enter clinical studies this year; and seasoned leaders who bring extensive clinical and commercialization experience with major drugs, including Allegra (fexofenadine), Sabril (vigabatrin), Anzemet (dolasetron) and Vaniqa (eflornithine). In addition, Cybin strengthened its presence in the United States with ownership of Adelia’s operating development facility in the epicenter of the Boston biotechnology center.
“We are thrilled to join forces with Adelia,” said Cybin CEO Doug Drysdale. “We see this acquisition as potentially advancing Cybin’s ability to innovate our psychedelic drug development program and diversify beyond major depressive disorder. Adelia’s focuses on novel delivery methods and innovative therapies may contribute to our goal of therapies with faster onset of action, smoother pharmacokinetic profiles, shorter treatment periods, and reduced side effects. Adelia’s expertise across multiple molecules and multiple indications could potentially give Cybin the ability to address gaps across a larger domain.”
At the time of the acquisition, Adelia had built an impressive reputation as an innovative biopharmaceutical company committed to addressing unmet mental health needs through developing proprietary psychedelic therapeutics with improved dosing efficacy and therapeutic indices. Adelia’s leadership team had worked with pharmaceutical companies including Johnson & Johnson, GlaxoSmithKline, Sanofi, Roche, Pfizer and Eli Lilly; they also had impressive academic research affiliations, including with MIT, Harvard, Stanford, Yale and Northeastern University.
Since the acquisition, the Cybin and Adelia teams have been focused on a three-pillar development strategy, including a novel drug discovery platform and research on the potential efficacy of psychedelic molecules to address unmet mental health needs; efficient drug delivery to enhance dosing control; and a potential novel treatment regimen.
Cybin Corp., a leading biotech company focused on progressing psychedelic therapeutics, is on a mission to revolutionize mental health care. The company is focused on progressing psychedelic therapeutics by utilizing proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://ibn.fm/CYBN
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