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Cybin Corp. Is Cashed Up and Primed For It’s Public Market Debut

Oct 29, 2020 • 11:09 AM EDT
3 MIN READ  •  By Michael Berger
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2020 has been a banner year for the psychedelic therapy market, and the industry is not even in the first inning of an impressive growth cycle.

One of the most important trends that we have identified with psychedelic therapy companies is the amount of capital raised by these businesses. So far this year, we have seen increasing interest in companies that we consider to be industry leaders and will be monitoring how the sector continues to gain traction.

Compass Pathways PLC (CMPS) is the first psychedelic therapy company to complete a go public transaction on the Nasdaq exchange. The company set a record for the sector and raised $100 million in an initial public offering (IPO). Compass is currently valued at more than $1.3 billion and is an opportunity to follow closely.

Atai Life Sciences is another psychedelic therapy company with access to the capital markets and plans to go public. A few months ago, the company raised almost $45 CAD million in a Series B financing. We believe it is an opportunity that we consider to be a high-profile psychedelic therapy business.

Mind Medicine (MindMed) Inc. (MMED.NE) is another high-profile psychedelic therapy company and is best known for having Bruce Linton on the Board of Directors. Bruce was the founder of Canopy Growth Corporation (WEED.TO) (CGC) and played a vital role in its success. We believe that Bruce has played an essential role in how MindMed has generated traction. We will monitor how the story evolves from here.

CYBIN Closes Major Funding Round

CYBIN is a life sciences company that focuses on developing psychedelic pharmaceutical therapies. We consider CYBIN to be an industry leader and are favorable for how the story has advanced this year.

Earlier this week, CYBIN reported a major milestone and closed an oversubscribed private placement offering. The company raised approximately $45 million by selling 60,000,000 subscription receipts for CDN$0.75 each. CYBIN will use the net proceeds to progress the company’s psychedelic therapies and nutraceutical products. We are favorable with the opportunity for the business and will monitor how the story advances from here.

Stifel GMP and Eight Capital led the Series B. We are favorable for the types of investors that were involved with the offering. In the future, CYBIN plans to advance its robust pipeline of psychedelic-based products through clinical development. We are favorable on the potential impact a complementary clinical trial will have on it.

CYBIN represents a differentiated opportunity, and we believe that the success of Atai, Compass, and MindMed is a positive for the company. The psychedelic therapy company is developing technologies and delivery systems that aim to improve bioavailability to achieve the desired effects of psychedelics at low dosage levels. We are excited about this remarkable opportunity.

Through these four operators, almost $500 million was invested in the psychedelic therapy market. The sector has started to gain significant traction, and this is a trend that is just getting started. Over the next year, we expect to interest increasing in these operators and we will monitor how the sector advances.

 

 

 

 

 

 

 

 

 

Pursuant to an agreement between StoneBridge Partners LLC and Cybin Corp. we have been hired for a period of 180 days beginning July 1, 2020 and ending January 1, 2021 to publicly disseminate information about (Cybin Corp.) including on the Website and other media including Facebook and Twitter. We are being paid $7,500 per month (Cybin Corp.) for or were paid “0” shares of restricted common shares. We own zero shares of (Cybin Corp.), which we purchased in the open market. We plan to sell the “ZERO” shares of (Cybin Corp.) that we hold during the time the Website and/or Facebook and Twitter Information recommends that investors or visitors to the website purchase without further notice to you. We may buy or sell additional shares of (Cybin Corp.) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.

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Authored By

Michael Berger

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