Cybin Inc. Secures $175 Million in Registered Direct Offering to Advance Neuropsychiatry Pipeline

Cybin Inc. has announced the completion of a registered direct offering that raised approximately $175 million in gross proceeds, marking a significant financial milestone for the neuropsychiatry company. The offering consisted of 22,277,750 common shares and pre-funded common share purchase warrants priced at $6.51 per share or pre-funded warrant. This substantial capital infusion represents one of the largest financings in the emerging psychedelic medicine sector and demonstrates strong investor confidence in Cybin's clinical development programs.

Each share or pre-funded warrant in the offering includes 0.35 of one common share purchase warrant exercisable at $8.14 per share. The warrants have unique exercise conditions tied to key clinical milestones, including expiration on June 30, 2027, or 30 days after topline data release for the APPROACH trial of CYB003 in major depressive disorder. An acceleration clause triggers if the NYSE American closing price equals or exceeds $19.53 for five consecutive trading days, providing additional potential upside for investors while aligning financial incentives with clinical progress.

The offering attracted participation from both new and existing institutional investors, including several prominent healthcare-focused funds. Participants included Venrock Healthcare Capital Partners, OrbiMed, Point72, Deep Track Capital, Acorn Bioventures, 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 diverse group of sophisticated healthcare investors underscores the broad market recognition of Cybin's potential in addressing the substantial unmet needs in mental healthcare.

Cybin is positioned as a late-stage breakthrough neuropsychiatry company focused on developing next-generation treatment options for mental health conditions. The company's lead program, CYB003, represents a proprietary deuterated psilocin analog currently in Phase 3 studies for adjunctive treatment of major depressive disorder. This compound has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration, recognizing its potential to demonstrate substantial improvement over existing therapies. The company's second program, CYB004, is a proprietary deuterated N, N-dimethyltryptamine molecule in Phase 2 development for generalized anxiety disorder.

The $175 million financing provides Cybin with substantial resources to advance its clinical pipeline at a critical juncture. With mental health disorders affecting hundreds of millions worldwide and current treatments often providing inadequate relief, Cybin's novel approaches could represent a paradigm shift in psychiatric care. The company maintains operations across Canada, the United States, the United Kingdom and Ireland, positioning it to conduct global clinical trials and eventually commercialize successful treatments across multiple markets. Additional information about Cybin's developments is available through their corporate communications at https://ibn.fm/CYBN.

This financing occurs against the backdrop of growing recognition that mental health represents one of the largest unmet medical needs globally. Traditional antidepressants and anxiolytics often take weeks to show effect and provide incomplete symptom relief for many patients. Cybin's novel compounds, derived from psychedelic molecules but engineered for improved safety and efficacy profiles, could offer faster-acting and more durable treatment options. The successful completion of this substantial offering during a challenging market environment for biotech financing highlights investor confidence in both Cybin's specific programs and the broader potential of psychedelic-inspired medicines to transform mental healthcare.