Cybin Secures $175M Funding for Mental Health Therapeutics

Cybin Inc., a Phase 3 clinical-stage neuropsychiatry company pioneering next-generation mental health therapeutics, has successfully closed a major registered direct offering that generated approximately US$175 million in gross proceeds. The financing involved the issuance of 22,277,750 common shares and 4,605,500 pre-funded warrants, each priced at US$6.51, with participation from an impressive roster of leading institutional investors including Venrock Healthcare Capital Partners, OrbiMed, Point72, Deep Track Capital, and Adage Capital Partners. Each unit in the offering includes 0.35 of a warrant exercisable at US$8.14 per share before June 30, 2027, or earlier under specified conditions. The transaction was facilitated by joint lead placement agents Jefferies, TD Cowen, and Cantor, with Bloom Burton Securities Inc. serving as placement agent, demonstrating strong institutional confidence in Cybin's clinical development pipeline and strategic direction.

As a late-stage breakthrough neuropsychiatry company, Cybin is committed to revolutionizing mental healthcare by developing innovative next-generation treatment options to address the substantial unmet needs of people suffering from mental health conditions. The company's clinical pipeline features two promising investigational compounds: CYB003, a proprietary deuterated psilocin analog currently in Phase 3 studies for adjunctive treatment of major depressive disorder that has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration, and CYB004, a proprietary deuterated N, N-dimethyltryptamine molecule in Phase 2 study for generalized anxiety disorder. Founded in 2019, Cybin maintains operational presence across Canada, the United States, the United Kingdom, and Ireland, positioning the company as a global leader in the emerging field of psychedelic-inspired therapeutics for mental health disorders.

The substantial funding secured through this offering provides Cybin with significant financial resources to advance its clinical development programs and expand its research pipeline of investigational, 5-HT-receptor focused compounds. This financial backing from prominent healthcare and life sciences investors underscores the growing recognition of the potential for novel neuropsychiatric treatments to transform mental healthcare. The company's focus on developing drugs that provide effective and durable results for patients addresses critical gaps in current mental health treatment options, potentially offering new hope for millions suffering from conditions like major depressive disorder and generalized anxiety disorder where conventional treatments often fall short.