Cybin Secures $50M to Advance Psychedelic Mental Health Treatments

Cybin Inc., a pioneering clinical-stage neuropsychiatry company, has secured a significant financial boost through a $50 million private placement with High Trail Special Situations LLC. This funding, part of a broader agreement potentially totaling $500 million, is earmarked for advancing Cybin's innovative psychedelic-based treatments, including CYB003 for major depressive disorder and CYB004 for generalized anxiety disorder. These treatments have shown promising results in clinical trials, with CYB003 achieving a 71% remission rate in Phase 2. CEO Doug Drysdale highlighted this investment as a testament to the company's clinical advancements and intellectual property. The financing arrangement includes unsecured convertible debentures with a 5.5% prepaid annual interest rate, convertible into common shares under certain conditions. This strategic move underscores Cybin's commitment to revolutionizing mental healthcare through its proprietary psychedelic-based compounds and drug delivery systems. For more details, visit the full press release.

Cybin's mission to address the unmet needs in mental health treatment is supported by its global operations and a network of esteemed partners and scientists. The company's focus on developing safe and effective psychedelic-based therapeutics positions it as a leader in the emerging field of neuropsychiatry. With its headquarters in Canada and operations spanning several countries, Cybin is at the forefront of creating novel treatment options for mental health conditions. Discover more about Cybin's groundbreaking work at www.Cybin.com.