10:25 AM EST - Cybin Inc. : Announced that it has closed on its acquisition of 100% of the shares in Adelia Therapeutics Inc. for up to CDN$20,161,575 (approximately USD$15.75 million). “We are thrilled to join forces with Adelia. We see this acquisition as potentially advancing Cybin’s ability to innovate our psychedelic drug development program and diversify beyond major depressive disorder. Adelia’s focuses on novel delivery methods and innovative therapies may contribute to our goal of therapies with faster onset of action, smoother pharmacokinetic profiles, shorter treatment periods, and reduced side effects. Adelia’s expertise across multiple molecules and multiple indications, could potentially give Cybin the ability to address gaps across a larger domain,” stated Doug Drysdale, Chief Executive Officer of Cybin. Cybin Inc.
shares O.CLXPF are trading up 31.32 percent at $1.73.
