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Cybin Completes US$150-Million Private Placement of Common Shares

Sherri M. Altshuler, Danny Kharazmi, Sean Green, Meredith McCann, Karlie Nordstrom , Ali Kwinter and Manjit Singh
On March 19, 2024, Cybin Inc. (CBOE: CYBN) (NYSE American: CYBN), a clinical-stage biopharmaceutical company committed to revolutionizing mental health care by developing new and innovative next-generation psychedelic-based treatment options, completed a US$150-million private placement of common shares.

The net proceeds from the offering are expected to be used for certain Phase 3 drug development activities for CYB003, as well as working capital and general corporate purposes. CYB003 is a proprietary deuterated psilocybin analog in development for the potential treatment of Major Depressive Disorder ("MDD"). If approved by the U.S. Food and Drug Administration, CYB003 would be the first-known adjunctive psychedelic-based therapeutic for the treatment of MDD.

Aird & Berlis represented Cybin with a team led by Sherri Altshuler and including Danny Kharazmi, Sean Green, Meredith McCann, Karlie Nordstrom, Manjit Singh and Ali Kwinter.

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