Cybin Secures $175 Million in Registered Direct Offering to Advance Mental Health Treatments

Cybin Inc. has announced the completion of a substantial registered direct offering, securing $175,009,911.45 in gross proceeds through the sale of 22,277,750 common shares and pre-funded warrants priced at $6.51 per unit. Each share or pre-funded warrant includes 0.35 of one common share purchase warrant exercisable at $8.14 per share, with expiration terms tied to specific clinical and market milestones.

The financing attracted participation from both new and existing institutional investors, including prominent healthcare-focused firms such as Venrock Healthcare Capital Partners, OrbiMed, Point72, Deep Track Capital, and Acorn Bioventures. Other participants included Spruce Street Capital, Squadron Capital Management, Adage Capital Partners LP, Boxer Capital Management, ADAR1 Capital Management, Stonepine Capital Management, Pivotal Bioventure Partners and Ally Bridge Group. This broad institutional support underscores confidence in Cybin's clinical development programs and the growing recognition of the need for innovative mental health treatments.

The warrant structure includes unique acceleration triggers that align investor interests with clinical progress. The warrants expire on the earliest of June 30, 2027, 30 days after topline data release for the APPROACH trial of CYB003 in major depressive disorder, or 30 days following an acceleration notice if the NYSE American closing price equals or exceeds $19.53 for five consecutive trading days. This structure creates direct connections between financing terms and both clinical milestones and market performance.

Cybin is positioned as a late-stage neuropsychiatry company focused on developing next-generation treatments for mental health conditions. The company's lead candidate, CYB003, represents a proprietary deuterated psilocin analog currently in Phase 3 studies for adjunctive treatment of major depressive disorder. This program has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration, recognizing its potential to address significant unmet medical needs. Additional details about Cybin's corporate developments are available in the company's newsroom at https://ibn.fm/CYBN.

The company's pipeline also includes CYB004, a proprietary deuterated N, N-dimethyltryptamine molecule in Phase 2 development for generalized anxiety disorder, along with a research portfolio of investigational compounds focused on 5-HT receptors. Founded in 2019, Cybin maintains operations across Canada, the United States, the United Kingdom and Ireland, reflecting its global approach to mental health innovation.

This substantial financing round represents one of the larger capital raises in the neuropsychiatry sector and signals growing investor confidence in psychedelic-inspired therapeutics. The funds will support continued clinical development of Cybin's pipeline candidates, particularly the advancement of CYB003 through Phase 3 trials. The successful completion of this offering during a challenging capital markets environment demonstrates the compelling nature of Cybin's clinical data and the substantial market opportunity in mental healthcare.

The mental health treatment landscape represents a massive unmet medical need, with current treatments often providing inadequate relief for millions of patients worldwide. Cybin's approach to developing novel compounds with potentially improved efficacy and durability could transform treatment paradigms for conditions like major depressive disorder and generalized anxiety disorder. The company's progress and this significant financing milestone highlight the evolving acceptance of innovative approaches in mainstream psychiatry and the pharmaceutical industry.