Cybin Acquires DMT Clinical Study for CDN 1m.
MANews-(C)2009-2022
Cybin IRL Ltd., a wholly owned subsidiary of Canadian biopharmaceutical company Cybin Inc. (NEO: CYBN) (NYSE American: CYBN), has agreed to acquire a Phase 1 N,N-dimethyltryptamine (DMT) study from Canada-based biotech company Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) (FSE: 1XU1) for CDN 1m (USD .74m), the company said.
A portion of the purchase price will be a deposit with the balance payable on closing of the acquisition. Up to an additional CDN 480,000 is payable for consulting services to be provided by Entheon for up to twelve months following the closing of the acquisition.
Pursuant to the acquisition, the company will also enter into a data license agreement with Entheon that will permit Entheon to access certain data to support the Entheon IQ programme.
The...
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