On March 20, 2024, Cybin Inc. (NYSE American: CYBN; Cboe CA: CYBN), a clinical-stage biopharmaceutical company, successfully closed an oversubscribed private placement, raising $150 million in gross proceeds. The transaction involved the issuance of 348,837,210 common shares at $0.43 per share. Led by Deep Track Capital, the placement also saw participation from prominent investors, including RA Capital Management, Avidity Partners, and Altium Capital.

Proceeds from the placement are earmarked for advancing Cybin's Phase 3 drug development activities for CYB003, a deuterated psilocybin analog targeting Major Depressive Disorder (MDD), along with other corporate purposes. If approved by the FDA, CYB003 could become the first adjunctive psychedelic-based therapeutic for MDD.

Bloom Burton Securities Inc. served as the Lead Agent, with Haywood Securities Inc. also acting as an agent for the offering. This capital infusion is expected to significantly bolster Cybin’s efforts in revolutionizing mental healthcare through next-generation psychedelic therapies.