Cybin Secures $175 Million in Funding from Top Healthcare Investors to Advance Mental Health Therapeutics

Cybin Inc., a Phase 3 clinical-stage neuropsychiatry company, has successfully closed a registered direct offering generating approximately $175 million in gross proceeds. The financing attracted participation from several prominent healthcare investment firms including Venrock Healthcare Capital Partners, OrbiMed, Point72, Deep Track Capital, and Adage Capital Partners, signaling strong institutional confidence in the company's approach to mental health therapeutics.

The offering consisted of 22,277,750 common shares and 4,605,500 pre-funded warrants, each priced at $6.51. Each unit included 0.35 of a warrant exercisable at $8.14 per share before June 30, 2027, or earlier under specified conditions. Jefferies, TD Cowen, and Cantor acted as joint lead placement agents for the transaction, with Bloom Burton Securities Inc. serving as placement agent. The substantial capital infusion comes at a critical juncture for the company as it advances its late-stage clinical programs.

This funding is particularly significant given Cybin's focus on developing novel treatments for mental health conditions, an area with substantial unmet medical needs. The company's lead candidate, CYB003, is a proprietary deuterated psilocin analog currently in Phase 3 studies for the adjunctive treatment of major depressive disorder. The compound has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration, recognizing its potential to address serious conditions where current therapies are inadequate.

Additionally, Cybin is developing CYB004, a proprietary deuterated N, N-dimethyltryptamine molecule in a Phase 2 study for generalized anxiety disorder. The company maintains a research pipeline of investigational compounds focused on 5-HT receptors, positioning itself at the forefront of neuropsychiatry innovation. The successful financing demonstrates investor belief in Cybin's potential to revolutionize mental healthcare through the introduction of novel drugs that provide effective and durable results for patients.

The participation of established healthcare investors like Venrock and OrbiMed validates Cybin's scientific approach and clinical strategy. These firms typically conduct extensive due diligence before committing capital, suggesting confidence in both the company's technology and its management team. The funding will enable Cybin to accelerate its clinical development programs and potentially bring new treatment options to market faster for the millions of people worldwide suffering from mental health conditions.

For investors and industry observers, the latest news and updates relating to CYBN are available in the company's newsroom at https://ibn.fm/CYBN. The substantial capital raise positions Cybin to continue its pioneering work in developing next-generation mental health therapeutics while providing the financial stability needed to navigate the complex regulatory pathway for novel psychiatric treatments.