Cybin (NEO: CYBN) (OTCQB: CLXPF), a biotechnology company focused on psychedelic pharmaceutical therapies, has noted key achievements reached by its wholly owned subsidiary Adelia Therapeutics Inc. Most notably, Adelia has achieved key milestones outlined in the terms of a contribution agreement between Cybin, Cybin Corp., Cybin US Holdings Inc. and previous Adelia shareholders. Those milestones are for Year 1 Q3 (i)-(iii) and Year 1 Q4 (i) and (iii), as contemplated by the terms of the Dec. 7, 2020, agreement. Consequently, the company announced that, in accordance with the agreement, Class B common shares will be issued to Adelia shareholders to satisfy the $504,875.75 due to them on meeting of the relevant milestones. Those shares are exchangeable for common shares in the capital of Cybin, the announcement noted. Adelia aims to develop medicinal psychedelics with improved dosing efficacy and therapeutic indices to address unmet medical needs. Adelia is focused on developing medicinal psychedelics that offer improved dosing efficacy and therapeutic indices to address unmet medical needs. The company is particularly intent on the development of treatment regimens consisting of proprietary psychedelic molecules and related clinical protocols.
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About Cybin Inc.
Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. For more information, visit the company’s website at www.Cybin.com.
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