Cybin is a life sciences company. The company is focused on advancing psychedelic therapies and non-psychedelic products to target specific psychiatric and neurological conditions.
Cybin’s business model is two-pronged, divided into its subsidiaries, Serenity Life Sciences and Nature’s Journey Inc. Serenity Life Sciences maintains a focus on psilocybin medication research and development, while Nature’s Journey Inc. innovates proprietary products and services to boost mental health and wellbeing.
In June 2020, the company agreed to amalgamate with Clarmin Explorations Inc to carry out a reverse takeover and raise up to CAD$21 million. The round was oversubscribed following the sale of 60 million subscription receipts priced at CAD$0.75 each, resulting in the historic CAD$45 million raise (see psychedelic company private placement data here). The oversubscribed round will now provide funding for the company’s upcoming clinical trials, and accelerate research into novel molecules.