Cybin Inc. and Small Pharma Inc. have completed Cybin’s acquisition of Small Pharma through a plan of arrangement, making Small Pharma a wholly-owned subsidiary of Cybin. This strategic move solidifies Cybin’s position as a leader in the psychedelics sector, boasting the largest deuterated N, N-dimethyltryptamine (dDMT) pipeline and top-tier efficacy data for CYB003. This acquisition creates an international clinical-stage leader in the mental health treatment space, with plans for Phase 2 and Phase 3 trials, promising groundbreaking advances in psychedelic-based therapeutics. The combined expertise and portfolios of both companies will drive innovation and value for shareholders and patients alike.
Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) (“Cybin”, or the “Company”) and Small Pharma Inc. (TSXV: DMT) (OTCQB: DMTTF) (“Small Pharma”) are pleased to announce the completion of the previously-announced acquisition by Cybin of Small Pharma by way of a plan of arrangement under the Business Corporations Act (British Columbia), and under the terms of an arrangement agreement dated August 28, 2023, between Cybin and Small Pharma (the “Arrangement”). As a result of the Arrangement, Small Pharma is now a wholly-owned subsidiary of Cybin.
“The closing of this transaction marks a significant milestone in Cybin’s growth trajectory, firmly establishing us as a leader in the psychedelics sector,” said Doug Drysdale, Chief Executive Officer of Cybin. “With the industry’s largest, most advanced, and well-protected deuterated N, N-dimethyltryptamine (“dDMT”) pipeline program and topline efficacy data for CYB003, our deuterated psilocybin analog program expected this quarter, Cybin is well positioned with two advanced clinical programs for the treatment of depression and anxiety disorders with demonstrated safety and efficacy. Our efforts are also supported by the largest intellectual property portfolio in the psychedelic drug development space, with over 30 patents granted and more than 160 patents pending. We welcome the Small Pharma scientists and leaders who are joining the Cybin team, as we look to leverage the many synergies and drive value for shareholders.”
George Tziras, Chief Executive Officer of Small Pharma, commented, “For the past 8 years, Small Pharma has worked to develop transformative medicines for patients struggling with depression. I am incredibly proud of what we as a team have achieved. This transaction marks the start of an exciting new chapter for Small Pharma as we bring to Cybin a complementary portfolio and a talented team. We firmly believe the combined company will be well positioned to accelerate innovation in the industry and deliver enhanced value for our shareholders and better outcomes for patients.”
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With a common goal to create novel, optimized psychedelic-based therapeutics, the combination of Cybin and Small Pharma creates an international, clinical-stage leader with the potential to transform the treatment paradigm for mental health conditions. Cybin’s and Small Pharma’s combined N, N-dimethyltryptamine (“DMT”), and dDMT programs create the largest dataset of systematic research on these short-duration psychedelic molecules. The companies’ combined development portfolios are highly complementary and provide multiple opportunities to create operational and cost synergies.
Data readouts from the combined company’s Phase 1 deuterated programs, CYB004 and SPL028 are anticipated by late 2023. This will enable a robust evaluation of formulations and administration routes and an informed, data-driven approach to launching a Phase 2 efficacy study of dDMT in the United States early in 2024.
Cybin expects to report Phase 2 safety and efficacy data from its proprietary CYB003 deuterated psilocybin analog program in participants with major depressive disorder in late 2023. Plans are underway to scale the program for Phase 3 in early 2024.
“As a stronger combined organization, there is a lot to look forward to in the remaining months of 2023 and 2024, as Cybin will have four studies running in 2024, CYB003, as it moves to Phase 3, CYB004, as it moves to Phase 2, and two formulation studies focused on evaluating more convenient dosing regimens,” concluded Drysdale.
George Tziras said, “To date, we have demonstrated strong proof of concept for our DMT program, with data to support its rapid and durable antidepressant effects for at least six months. Importantly, we have further shown that a DMT-based treatment can be administered safely in patients taking selective serotonin reuptake inhibitor antidepressants and has the potential to enhance treatment efficacy. As a combined company, the upcoming year offers the opportunity to make significant advances in our combined proprietary psychedelic portfolio as we continue to further validate the treatment potential of these therapies.”
Source: Biospace