Cybin to Acquire Small Pharma and Create an International Clinical-Stage Leader in Novel Psychedelic Therapeutics
Shots:
- Cybin will acquire all of Small Pharma’s issued and outstanding securities in an all-share transaction. Small Pharma' shareholders will receive 0.2409 common shares of Cybin for each common share of Small Pharma implying ~$0.10 per Small Pharma share representing a 43.64% premium based on recent avg. prices. The transaction is expected to be close in late Oct 2023
- Cybin shareholders will own 74.5% of the combined company & Small Pharma shareholders will possess the remaining 25.5%. Both companies possess a comprehensive IP portfolio in the psychedelic drug development sector & combined dataset that covers a variety of clinical programs
- Small Pharma’s two late-stage clinical programs are currently in development for depression & anxiety disorders. The results from both companies’ P-I deuterated programs, CYB004 and SPL028 are expected in late 2023
Ref: Businesswire | Image: Cybin
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