Cybin Goes Public on the NEO Exchange
Ryan Allway
November 11th, 2020
App, Exclusive, Psychedelics, Top Story
The direct and indirect costs of mental health disorders add up to more than $2.5 trillion worldwide, according to the National Centre for Biotechnology Information. A growing body of research suggests that psychedelics could play a major role in the treatment of these disorders.
Not surprisingly, a psychedelics industry has emerged with a number of initial public offerings and reverse mergers over the past year, including Compass Pathways Inc. (NASDAQ: CMPS), Field Trip Health Inc. (CSE: FTRP) and HAVN Life Sciences Inc. (CSE: HAVN).
Cybin Inc. (NEO:CYBN) became the latest company to go public in the space on November 10, 2020 when it began trading on the NEO Exchange.
Let’s take a look at the company’s listing on the NEO and how U.S. retail investors can invest in the company.
Click here to receive and investor deck and corporate updates
Getting to Market First
Cybin is a leading life sciences company focused on psychedelic drug development, unique delivery mechanisms, improved novel compounds, and protocols that target psychiatric and neurological conditions around the world.
The company aims to become one of the first life science companies to launch a fully approved psilocybin product targeting depression after raising about C$55 million from seed, Series A, and Series B rounds and assembling an experienced team.
In particular, the company’s Phase II clinical trial will compare psilocybin capsules with its proprietary sublingual film in patients with major depressive disorder (MDD). The company will also continue to focus on its unique IP strategy developing chemically synthesized compounds.
Cybin Lists on the NEO
Cybin announced the completion of its reverse takeover transaction with Clarmin Explorations Inc. on November 5, 2020, which paved the way for its listing on Canada’s NEO Exchange. On November 10, the NEO announced that the company began trading under the ticker symbol “CYBN”. Cybin is heading into a very active period anticipating an imminent start of its Phase 2 clinical study of sublingual psilocybin for the treatment of Major Depressive Disorder.
The move follows the company’s private placement of 60 million subscription receipts for gross proceeds of about C$45 million—the largest go-public funding round in Canada’s nascent psychedelics industry and a testament to its success to date.
The private placement included participation from several high-profile investors, including RA Capital Management, Janus Henderson Investors, Kearny Venture Partners, LifeSci Venture Partners and Bail Capital, which complemented its existing institutional investors.
Click here to receive and investor deck and corporate updates
How to Invest in Cybin
U.S. retail investors will require a multi-national brokerage account since most domestic brokerage accounts do not have access to the NEO Exchange. For example, InteractiveBrokers supports trading on hundreds of exchanges around the world, including the NEO Exchange.
In the future, the company may list on the OTC Markets to provide alternative liquidity to U.S. investors that wish to purchase the stock in existing domestic brokerage accounts, although no such announcements have been made by the company at this time.
Looking Ahead
Cybin (NEO: CYBN) began trading on the NEO Exchange on November 10, 2020, enabling retail investors to participate in the newest psychedelics opportunity. With a ~C$45 million capital raise prior to going public, the company is well-capitalized to execute on its vision.
Click here to receive and investor deck and corporate updates
NEO’s Investor Helpline is available at 1.844.567.6424 for any trading-related inquiries
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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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