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Cybin Announces Acquisition of Adelia Therapeutics
Cybin, a Canadian psychedelic life services company, announced this week that it has acquired Adelia Therapeutics, a global pharmaceutical firm whose founders previously partnered with Johnson & Johnson to develop the ketamine-based drug Spravato.
Cybin acquired 100% of Adelia shares for $15.75 million in an all-stock transaction, and it also adds Adelia’s operating development facility in Boston, increasing Cybin’s presence in the U.S.
With its acquisition of Adelia, Cybin noted in a news release that it also gains additions to its product pipeline that will expand Cybin’s programs beyond major depressive, anxiety, substance use and eating disorders, as well as psychedelic derivative drug development candidates, with lead compounds expected to enter clinical studies in 2021.
