Cybin (NEO: CYBN) (NYSE American: CYBN),a biopharmaceutical company focused has announced that subsidiary Adelia Therapeutics Inc. has achieved a milestone outlined in the contribution agreement between Cybin, Cybin Corp., Cybin US Holdings Inc. and previous Adelia shareholders; the milestone was identified as Year 2 Q2 (iii). According to the transaction agreement, 17,239.5 Cybin class B common shares will be issued to Adelia shareholders when relevant milestones have been met; the class B Shares will be exchangeable for common shares in the capital of Cybin at an exchange rate of 10 to 1. Adelia is working on developing medicinal psychedelics with improved dosing efficacy and therapeutic indices to address unmet medical needs.
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About Cybin Inc.
Cybin is a leading ethical biopharmaceutical company working with a network of world-class partners and internationally recognized scientists and on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom and Ireland. The company is focused on progressing Psychedelics to Therapeutics(TM) by engineering proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for mental health disorders. For more information, visit the company’s website at www.Cybin.com.
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