Welcome to the News You Might Have Missed, a weekly roundup of psychedelic medicine news to help you catch up and stay informed
Reunion Neuroscience Sold and Going Private
Reunion Neuroscience has been sold to MPM BioImpact, a private biotechnology investment firm. The deal shows that MPM would acquire 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.
If approved, ..”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.”
Kentucky Commits $42 Million for Psychedelic Research
Attorney General for the US State of Kentucky, Daniel Cameron, announced that Kentucky will allocate $42 million for psychedelic research, specifically ibogaine for opioid addiction. The money will be taken from the Opioid Settlement Funds and allocated over seven years.
High-ranking Kentucky officials, alongside several military veterans, family members, and members of the Veteran Mental Health Leadership Coalition, held a press conference at Camp Nelson to announce a novel approach to combating the state’s long-standing addiction crisis.
Cybin Announces US$30M Capital Raise Agreement
Cybin has the right to sell up to US$30 million (CAD$41 million) of common shares over a 36-month period at current market prices. This gives Cybin access to capital when they need it and some flexibility in choosing the right market conditions.
“This committed equity facility by LPC provides us with access to capital on an as-needed basis and is expected to allow Cybin to best utilize market conditions to raise capital in support of our drug development programs,” said Doug Drysdale, Chief Executive Officer of Cybin.
Terran Biosciences Announces Licensing Deal with Pierre Fabre for Idazoxan; Completes Development Milestones
Terran Biosciences signs another deal with a legacy pharma company, this time obtaining an exclusive global license to late-stage CNS assets from Pierre Fabre. The deal features the compound idazoxan, which has already been dosed in over 1,000 patients and has demonstrated significant efficacy and safety in multiple phase 2 studies in patients with schizophrenia.
Beckley Waves Establishes Psychedelics Ethics Council to Guide Industry Standards and Best Practices
The New Ethics Council will Work Alongside Beckley Waves to set the Standard for Sustainable and Ethical Operations in the Burgeoning Psychedelics Sector.
Alongside Amanda Feilding, the new Ethics Council includes Rick Doblin, founder of MAPS, and mycologist and entrepreneur Paul Stamets, both longtime friends and professional collaborators of Amanda’s and seminal figures in the psychedelic renaissance.
