Cybin Inc. Announces $175 Million Registered Direct Offering to Advance Mental Health Treatments

Cybin Inc. announced a registered direct offering of 22,277,750 common shares and pre-funded common share purchase warrants priced at US$6.51 per share, generating aggregate gross proceeds of US$175,009,911.45. Each share or pre-funded warrant includes 0.35 of one common share purchase warrant exercisable at US$8.14 per share, with expiration conditions tied to either June 30, 2027, 30 days after topline data release for the APPROACH trial of CYB003 in major depressive disorder, or 30 days following an acceleration notice if the NYSE American closing price equals or exceeds US$19.53 for five consecutive trading days.

The offering attracted participation from both new and existing investors including prominent healthcare investment firms such as Venrock Healthcare Capital Partners, OrbiMed, Point72, Deep Track Capital, Acorn Bioventures, Spruce Street Capital, Squadron Capital Management, Adage Capital Partners LP, Boxer Capital Management, ADAR1 Capital Management, Stonepine Capital Management, Pivotal Bioventure Partners and Ally Bridge Group. This substantial financial backing demonstrates strong institutional confidence in Cybin's clinical development programs and its potential to address significant unmet needs in mental healthcare.

Cybin is advancing CYB003, a proprietary deuterated psilocin analog that has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration and is currently in Phase 3 studies for adjunctive treatment of major depressive disorder. The company is also developing CYB004, a proprietary deuterated N, N-dimethyltryptamine molecule in Phase 2 study for generalized anxiety disorder, along with a research pipeline of investigational compounds focused on 5-HT receptors. The funding comes at a critical juncture as the company progresses its late-stage clinical programs targeting mental health conditions that affect millions worldwide.

The capital infusion positions Cybin to accelerate its clinical development timeline and expand its research initiatives while maintaining operational capabilities across its international presence in Canada, the United States, the United Kingdom and Ireland. For additional details about the offering, investors can access the full press release at https://ibn.fm/TPxvo. The company maintains an updated newsroom at https://ibn.fm/CYBN where stakeholders can find current information and developments related to Cybin's progress in the neuropsychiatry sector.