- Cybin (NEO:CYBN) is set to acquire Small Pharma Inc. (TSXV:DMT)
- The acquisition will create a combined portfolio of the psychedelics industry’s largest Dimethyltryptamine (DMT) program
- The two companies will create the largest property portfolio in the psychedelics drug development industry with 28 approved patents and 158 patents pending
- Shares of Cybin are up 4.82 per cent to C$0.43 as of 11:36 am ET, while shares of Small Pharma Inc. are unchanged at C$0.08
Cybin (NEO:CYBN) is gearing up to acquire Small Pharma Inc. (TSXV:DMT), which will create a combined portfolio of the psychedelics industry’s largest Dimethyltryptamine (DMT) program.
In a news release, Cybin said the acquisition of Small Pharma paired with its own portfolio will create the industry’s largest intellectual property portfolio with 28 approved patents and 158 patents pending.
“Our combined portfolios, having an increased number of potential value-catalysts, also create added opportunities to support future funding activities with no added debt. We look forward to welcoming our Small Pharma colleagues into the Cybin team,” Doug Drysdale, CEO of Cybin, said in a statement.
Terms of the transaction include Small Pharma shareholders receiving 0.2409 common shares of Cybin for each common share of Small Pharma.
Since 2021, Small Pharma has raised $63 million and demonstrated the first placebo-controlled efficacy results for DMT in treating major depressive disorders.
Both operating teams of Cybin and Small Pharma will create an entity with DMT expertise and deuterated psychedelic tryptamine-based therapeutics for mental health disorders.
Data readouts from both companies’ Phase 1 deuterated programs, CYB004 and SPL028 are anticipated by late 2023.
Cybin is a clinical-stage biopharmaceutical company on a mission to create safe and effective psychedelic-based therapeutics to address the large unmet need for new and innovative treatment options for people who suffer from mental health conditions.
Shares of Cybin are up 4.82 per cent to C$0.43 as of 11:36 a.m. ET, while shares of Small Pharma Inc. are unchanged at C$0.08.
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