Adelia Therapeutics has achieved earn-out milestones outlined in contribution agreement with Cybin- Adelia ideal acquisition for Cybin, as it leads innovation in researching psychedelic treatment options in the mental health space
- Acquisition results in Cybin obtaining extensive intellectual property portfolio and product pipeline
Cybin (NEO: CYBN) (OTC: CLXPF), a life sciences company advancing psychedelic therapeutics for various psychiatric and neurological conditions, has announced that its recently acquired subsidiary, Adelia Therapeutics Inc., has achieved the earn-out milestones outlined for the time period in the contribution agreement between the two companies (https://ibn.fm/c6o2E). That milestone includes the successful synthesis of multiple tryptamine derivatives.
Furthermore, the synthesis of tryptamine derivatives resulted in quantities adequate enough that Adelia could initiate in vitro “Proof of Principle”; establish that an ADME/PK has been completed; and demonstrate “In Vitro” ADME “Proof of Principle” that specific synthesis modifies the metabolism of a psychedelic tryptamine.
Adelia focuses on developing medicinal psychedelics with improved dosing efficacy and therapeutic indices to address unmet medical needs, which makes the company an idea fit for Cybin, as it leads the way in researching psychedelic treatment options in the mental health space. Adelia’s proprietary development strategy is based on chemical modifications to already known tryptamine derivatives that significantly alter the pharmacokinetic properties of those derivatives without changing their therapeutic potential. The company’s recent milestone is a direct result of this focus and its dedication to seeking to minimize inter-patient variability by better controlling drug metabolism without loss of efficacy.
Cybin’s acquisition of Adelia resulted in Cybin obtaining an extensive intellectual property portfolio and product pipeline that could lead to diversification beyond major depressive disorder (“MDD”) treatments and regimens. Adelia’s three-pillar development strategy includes novel therapeutics, delivery methods and therapeutic regimens focused on improving patient outcomes. The acquisition also results in Cybin gaining psychedelic derivative drug-development candidates, with the first lead compounds expected to enter clinical studies in 2021.
“We are thrilled to join forces with Adelia,” said Cybin CEO Doug Drysdale when announcing the acquisition (https://ibn.fm/T5eIg). “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.”
The Adelia acquisition also combines two talented teams that share strong patient-first values and track records of innovation in the field of psychedelics. Adelia’s leadership team of accomplished scientists brings invaluable preclinical development experience that complements Cybin’s clinical experience and resources.
Cybin is a life sciences company advancing psychedelic therapeutics for various psychiatric and neurological conditions. Cybin is developing technologies and delivery systems, aiming to improve bioavailability, to potentially achieve the desired medicinal effects of psychedelics at low dosage levels. The new delivery systems are expected to be studied through clinical trials to confirm safety and efficacy.
For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://ibn.fm/CYBN
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