Cybin, Inc. announced on August 28 its acquisition of Small Pharma, Inc. a London-based biotechnology company progressing a pipeline of short-duration psychedelic-assisted therapies for the treatment of mental health conditions.
Small Pharma has a portfolio of clinical-stage DMT-based assets, SPL026 and SPL028. Small Pharma was granted an Innovation Passport designation for SPL026 from the U.K. Medicines and Healthcare products Regulatory Agency and has a pipeline of proprietary preclinical assets.
Cybin is a biopharmaceutical company advancing psychedelic pharmaceutical treatments for various psychiatric and neurological conditions. Headquartered in Toronto and founded in 2019, Cybin is operational in Canada, United States, United Kingdom, Netherlands and Ireland.
Gowling WLG LLP is acting as legal counsel to Cybin. Aird & Berlis LLP is acting as legal counsel to Small Pharma and the Small Pharma Special Committee. Jefferies International Limited is acting as exclusive financial advisor to Small Pharma.
Under the terms of the transaction, Small Pharma shareholders will receive 0.2409 common shares in the capital of Cybin for each common share of Small Pharma held. More information regarding the financial terms of the transaction is anticipated to be released in October 2023 at the shareholder’s meeting.
According to data captured in the LevinPro HC database, this transaction marks the 104th Biotechnology acquisition of 2023.
