Welcome to the News You Might Have Missed, a weekly roundup of psychedelic medicine news to help you catch up and stay informed
Cybin Announces Public Offering for Capital Raise
Cybin has announced a public offering of 24,264,706 units at US$0.34 per unit for aggregate gross proceeds of US$8,250,000. Cybin intends to use the net proceeds from the Offering for the progression of the company’s CYB003 and CYB004 programs, and for general corporate and working capital purposes.
MindMed Reports Second Quarter 2023 Financial Results and Highlights
“We’re coming up on a critical period for MindMed as we are close to wrapping up enrollment in our Phase 2b study of MM-120 for the treatment of generalized anxiety disorder,” said Robert Barrow, Chief Executive Officer and Director of MindMed.
“We are also excited to have licensed Catalent’s Zydis ODT technology for use with MM-120 which we believe significantly bolsters the differentiation and protectability of our MM-120 product candidate while potentially offering enhanced bioavailability and more rapid absorption, which may lead to a shorter treatment session. We could not be more excited about the progress we have made to date and the numerous upcoming milestones in the months ahead.”
Psyence Announces SEC Registration For NASDAQ (by SPAC Merger)
Psyence announced SPAC merger and filed with the SEC for eventual NASDAQ trading.
“The filing of the F-4 Registration Statement is a culmination of a huge effort by both Newcourt and Psyence’s teams and signifies the progress that Psyence Biomed and Newcourt have made,” said Dr. Neil Maresky, Chief Executive officer, of Psyence.
“This strategic milestone is expected to provide Psyence’s therapeutics business with access to the capital required, as the therapeutics team continues to execute our strategy and address the challenges of palliative care patients.”
Reunion Neuroscience Inc. and MPM BioImpact Announce Completion of Plan of Arrangement
Reunion Neuroscience has completed its deal with MPM BioImpact. The deal shows that MPM acquires Reunion in an all-cash transaction valued at approximately US$13.1 million — taking the company private and bringing it under its group of private subsidiaries.
“..all holders of outstanding common shares of Reunion will be entitled to receive US$1.12 in cash for each Share held immediately prior to the effective time of the Arrangement. Based on the Bank of Canada daily exchange rate as of the close of business on May 31, 2023, this would be approximately $1.52 per Share in Canadian dollars, representing a premium of approximately 43.1% over the trailing 30-trading-day volume weighted average price.”
