Cybin (NEO: CYBN) (NYSE American: CYBN), a biopharmaceutical company focused on progressing Psychedelics to Therapeutics(TM), has announced that its wholly controlled subsidiary, Adelia Therapeutics Inc., has achieved a key milestone. The milestones were identified in the Dec. 4, 2020, contribution agreement between Cybin and Adelia and include Year 1 Q4 (vi), Year 2 Q2 (ii), Year 2 Q2 (v) and Year 2, Q3 (iii). Others involved in the agreement include Cybin Corp., Cybin US Holdings Inc. and the previous shareholders of Adelia. According to the agreement, Adelia shareholders will be issued 90,546.0 Class B shares in Cybin; those shares are exchangeable for common shares in the capital of Cybin on a 10 Cybin shares for 1 Class B share basis. The transaction is designed to satisfy the C$904,916.81 due to them when the milestone is achieved.
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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 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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