Cybin (NYSE:CYBN), a biotechnology company focused on progressing psychedelic therapeutics, has announced that its wholly-owned subsidiary, Adelia Therapeutics Inc., has achieved a significant milestone. Specific milestones outlined in the Dec. 4, 2021, contribution agreement define what actions are to be taken when certain milestones are reached.

When this specific milestone, identified as Year 2 Q1 (v), is reached,  the agreement calls for 15,611.4 class B common shares to be issued to Adelia shareholders; those shares are exchangeable for common shares in Cybin capital in accordance with parameters defined by the agreement. Adelia is committed to developing medicinal psychedelics that offer improved dosing efficacy and therapeutic indices designed to address unmet medical needs. Specifically, Adelia is focused on the development of treatment regimens consisting of proprietary psychedelic molecules and related clinical protocols.

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