TORONTO – (COMMERCIAL THREAD) –Cybin Inc. (NEO: CYBN) (AMERICAN NYSE: CYBN) (“Cybine“or the”Society“), a biotechnology company focused on psychedelic pharmaceutical therapies, is pleased to announce that Adelia Therapeutics Inc. (“Adelie“), a wholly controlled subsidiary of Cybin, has achieved milestones identified as year 2 Q1 (i) – (iii), as provided for by the terms of a contribution agreement dated December 4, 2020 (the”Settlement Agreement“) between Cybin, Cybin Corp., Cybin US Holdings Inc. (the”Purchaser“), a wholly-owned subsidiary of Cybin, and all of the former shareholders of Adelia (the”Adélia shareholders“).
Pursuant to the Transaction Agreement, the Class B common shares in the capital of the Purchaser (the “Class B shares“) will be issued to Adélia Shareholders, in settlement of the $ 706,586.69 (approximately US $ 560,181.93) due to them for having reached some of the relevant milestones, at an effective issue price determined in accordance with The Transaction Agreement and the applicable securities law Class B shares issued by the purchaser to Adélia shareholders are exchangeable for ordinary shares in the capital of Cybin (the “sharesCybin actions”) On the basis of 10 Cybin shares for 1 class B share, at the option of the holder thereof, subject to customary adjustments. No Class B shares are exchangeable before December 14, 2021, and no more than: (i) 33 1/3% of the Class B shares will be exchangeable before December 14, 2022; (ii) 66 2/3% of the Class B shares will be exchangeable before December 14, 2023; and (iii) thereafter, 100% of the Class B shares will be exchangeable.
Additional information relating to the transaction is available in the transaction agreement, which is filed under Cybin’s profile on SEDAR (www.sedar.com) and with the United States Securities and Exchange Commission on EDGAR at www.sec.gov.
Cybin is a leading biotechnology company focused on researching and advancing psychedelic therapies using proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches, and potential treatment regimens for patients. psychiatric disorders.
Adelia is a wholly controlled subsidiary of the Company, which aims to develop medicinal psychedelics with improved dosage efficacy and therapeutic indices to address unmet medical needs. Adelia’s main objective is the development of therapeutic regimens composed of proprietary psychedelic molecules and associated clinical protocols. This proprietary development strategy is based on chemical modifications of the known and well understood derivatives of tryptamine which significantly modify their pharmacokinetic properties without changing their therapeutic potential. These proprietary approaches aim to minimize inter-patient variability by better controlling drug metabolism without loss of efficacy which together have been shown to produce more predictable and favorable patient outcomes.
Cautions and forward-looking statements
Certain statements contained in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding the future, strategy, plans, objectives, goals and targets of Cybin, and all statements preceded, followed or which include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “could”, “could “,” Anticipate “,” estimate “,” anticipate “,” predict “,” project “,” seek “,” should “or similar or negative expressions thereof, are forward-looking statements. this press release include statements regarding the Company’s development of innovative drug delivery systems, novel formulation approaches and potential treatment regimens for psychiatric disorders and the proprietary development strategy of Adelia and the development of medicinal psychedelics with improved dosage efficacy and therapeutic indices to treat unmet medical problems. Needs.
These forward-looking statements are based on reasonable assumptions and estimates of the management of the Company at the time these statements were made. Actual future results may differ materially, as forward-looking statements involve risks, uncertainties and other known and unknown factors that may cause the actual results, performance or achievements of the Company to differ materially from the results, performance or achievements. futures expressed or implied by these forward-looking statements. These factors include, among others: the implications of the COVID-19 pandemic on the Company’s operations; fluctuations in general macroeconomic conditions; fluctuations in the securities markets; expectations regarding the size of the psychedelics market; the Company’s ability to successfully achieve its business objectives; growth plans; political, social and environmental uncertainties; employee relations; the presence of laws and regulations that may impose restrictions on the markets in which the Company operates; and the risk factors set out in the Company’s management report for the quarter ended June 30, 2021 and the Company’s listing statement dated November 9, 2020, which are available under the Company’s profile on www.sedar.com and with the United States Securities and Exchange Commission on EDGAR at www.sec.gov. Although the forward-looking statements contained in this press release are based on what the management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with these. forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or expected. Readers should not place undue reliance on the forward-looking statements and information contained in this press release. The Company assumes no obligation to update forward-looking statements of beliefs, opinions, projections or other factors, if they change, except as required by law.
Cybin makes no medical, therapeutic or health claims regarding the products offered by Cybin. The United States Food and Drug Administration, Health Canada, or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives, or other psychedelic compounds or nutraceuticals. The effectiveness of these products has not been confirmed by approved research. There can be no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic or nutraceutical compounds will diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its offered products. Any reference to the quality, consistency, efficacy and safety of potential products does not imply that Cybin has verified them in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to market its business, it could have a material adverse effect on Cybin’s performance and operations.
Neo Bourse Inc. has neither approved nor disapproved the contents of this press release and is not responsible for the relevance and accuracy of its contents.
Unless otherwise indicated, all dollar amounts in this press release are expressed in Canadian dollars.