Company aims to develop world’s first approved psilocybin products to treat depression
Toronto – November 10, 2020 – NEO is excited to announce that Cybin Inc.. (“Cybin”), a leading Toronto-based biotech and life sciences company focused on psychedelic pharmaceutical therapies, has made its debut on the global public markets today. Cybin is now trading on the NEO Exchange under the symbol NEO:CYBN.
Having recently closed Canada’s largest go-public financing in the psychedelic sector with $45M raised, Cybin underwent a reverse takeover (RTO) to go public. The company focuses on psychedelic drug development, unique delivery mechanisms, improved novel compounds, and protocols that target psychiatric and neurological conditions. With 1 in 4 people affected by mental or neurological disorders, according to the World Health Organization, Cybin aims to obtain regulatory approval for one of the world’s first psilocybin products to treat Major Depressive Disorder (MDD).
“Today marks a meaningful milestone for our company, as our shares begin trading on the NEO Exchange under the ticker symbol CYBN,” stated Doug Drysdale, Chief Executive Officer of Cybin. “The NEO Exchange shares our passion for innovation and provides a broad platform for our next stage of growth. Cybin is heading into a very active period with the start of our Phase 2 clinical study of sublingual psilocybin for the treatment of Major Depressive Disorder. This listing gives us increased access to capital, enhanced visibility with the investment community, and most importantly, a greater opportunity to bring innovative treatment options to those suffering with mental illness.”
Supported by a management and advisory team with expertise in the psychedelic, pharmaceutical and nutraceutical sectors, Cybin is working alongside the Toronto Centre for Psychedelic Science to determine the safety and efficacy of psilocybin-based microdosing, and is responsible for some of the first published research on microdosing. “The potential of psychedelic therapies to treat mental illness and addiction disorders has never been more significant,” said Drysdale. “We will continue to advance our robust pipeline of psychedelic-based products through clinical development.”
Investors can trade shares of NEO:CYBN through their usual investment channels, including discount brokerage platforms and full-service dealers.
“As a leader in a ground-breaking industry with vast potential to resolve a global mental health crisis, Cybin is a true innovator that brings great hope to our world,” said Jos Schmitt, President and CEO of NEO. “Their values and approach align well with NEO as we, too, continue to challenge the status quo and push boundaries to make, in our case, Canadian capital markets better for everyone. We look forward to providing Cybin with greater access to capital to fund clinical trials and work towards a treatment for depression and other mental disorders. NEO is honoured to be selected by Cybin as their main board exchange of choice and will continue to deliver tangible and innovative solutions to help them and our other listing partners thrive.”
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About Cybin Inc.
Cybin Inc. is a life sciences company advancing psychedelic pharmaceutical treatments for various psychiatric and neurological conditions. Cybin is developing technologies and delivery systems aiming to improve bioavailability to achieve the desired effects of psychedelics at low dosage levels. The new delivery systems are expected to be studied through clinical trials to confirm safety and efficacy.
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About NEO Exchange
NEO Exchange is a progressive stock exchange that brings together investors and capital raisers within a fair, efficient, and service-oriented environment. Fully operational since June 2015, NEO puts investors first and provides access to trading all Canadian-listed securities on a level playing field. The NEO Exchange lists senior companies and investment products seeking a stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
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