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

Cybin Inc., a Phase 3 clinical-stage neuropsychiatry company focused on developing next-generation mental health therapeutics, has successfully closed a registered direct offering generating approximately $175 million in gross proceeds. The financing involved the sale of 22,277,750 common shares and 4,605,500 pre-funded warrants, each priced at $6.51, with participation from several prominent healthcare investment firms including Venrock Healthcare Capital Partners, OrbiMed, Point72, Deep Track Capital, and Adage Capital Partners. This substantial capital infusion represents one of the largest financings in the psychedelic therapeutics sector and signals strong institutional confidence in Cybin's clinical pipeline and approach to addressing mental health conditions.

The offering structure included 0.35 of a warrant exercisable at $8.14 per share for each unit purchased, with these warrants expiring on June 30, 2027, or earlier under specified conditions. Jefferies, TD Cowen, and Cantor acted as joint lead placement agents for the transaction, while Bloom Burton Securities Inc. served as placement agent. The participation of these established financial institutions and the caliber of healthcare-focused investors involved underscores the growing recognition of mental health therapeutics as a legitimate and promising investment category within the broader healthcare sector.

This funding comes at a critical juncture for Cybin as the company advances its lead program CYB003, a proprietary deuterated psilocin analog that has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration and is currently in Phase 3 studies for the adjunctive treatment of major depressive disorder. The company is also developing CYB004, a proprietary deuterated N, N-dimethyltryptamine molecule in Phase 2 studies for generalized anxiety disorder. The substantial capital raised provides Cybin with extended financial runway to complete these late-stage clinical trials and potentially bring novel treatment options to patients suffering from these widespread mental health conditions.

The investment from top-tier healthcare specialists like Venrock Healthcare Capital Partners and OrbiMed, known for their selective investments in promising biopharmaceutical companies, validates Cybin's scientific approach and clinical development strategy. These investors typically conduct extensive due diligence before committing capital of this magnitude, suggesting confidence in both the company's technology platform and the broader potential of psychedelic-inspired therapeutics to address the significant unmet needs in mental healthcare. The financing demonstrates the evolving acceptance of novel neuropsychiatry approaches within mainstream investment circles and the healthcare investment community.

For investors and stakeholders seeking additional information, the company maintains updated news and developments in its corporate newsroom available at https://ibn.fm/CYBN. The successful completion of this substantial financing positions Cybin to accelerate its clinical programs and potentially bring innovative treatment options to the millions of people worldwide affected by major depressive disorder and anxiety disorders, conditions that represent substantial healthcare burdens with limited current treatment options.