Adelia”) for up to CDN$20,161,575 (approximately USD$15.75 million) (the “
Transaction”).
Transaction Highlights
Newly acquired novel psychedelic molecules diversify Cybin’s development portfolio, providing access to multiple future indications. Selective modification, through deuteration of psychedelic parent molecules, allows control of the duration of action of these new chemical entities, enabling the design of both short and long-acting treatments.
Adelia brings a range of technologies related to novel therapeutics, delivery methods, and therapeutic regimens, as well as six patent applications.
Adelia contributes an expanding library of psychedelic derivative drug development candidates. The first lead compounds are expected to enter clinical studies in 2021, subject to receipt of approvals.
Canada Allows Professionals In Training To Use Psilocybin
The decision, announced Tuesday, marks the latest step in Canada’s path towards the legalization of psilocybin.
Since August 2020, Canada’s Health Minister has granted 14 exemptions to access psilocybin therapy, mainly for patients dealing with end-of-life distress.
“Health Canada now rightfully acknowledges that clinician experience with psychedelic medicines is an important part of their training. Therapists having psychedelic experience are able to more deeply empathize with patients and understand their experience,” said Bruce Tobin, founder and Board Chair of TheraPsil, a nonprofit working for patient access to psilocybin in Canada.
The UK To Begin First-Ever Clinical Trials On DMT For Depression
CYBIN Closes Acquisition of Adelia Therapeutics; Bolsters Scientific Team and Grows IP Portfolio to 7 Patent Filings businesswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesswire.com Daily Mail and Mail on Sunday newspapers.