News You Might Have Missed: Aug 21st, 2023

Welcome to the News You Might Have Missed, a weekly roundup of psychedelic medicine news to help you catch up and stay informed

Cybin Granted U.S. Patent For Psilocybin Program

Cybin snnounces grant of U.S. Patent covering proprietary deuterated psilocybin analog in its CYB003 program.

Newly granted U.S. patent covers composition of matter claims and treatment methods in support of the Company’s CYB003 program until 2041.

MindMed Secures $50 Million Loan From K2 HealthVentures

“We are thrilled to announce this agreement with K2 HealthVentures, a premier partner in the life sciences industry known for strategic investments in promising healthcare companies,” said Robert Barrow, Chief Executive Officer and Director of MindMed.

“This transaction strengthens our balance sheet and provides us with additional operational and strategic flexibility as we enter a very exciting period for MindMed. We have several upcoming value inflection points such as the topline readout of our Phase 2b study of MM-120 for the treatment of generalized anxiety disorder later this year.”

COMPASS Pathways Announces Capital Raise of Up to $285 Million

COMPASS will receive approximately $125 million in gross proceeds, and up to an additional approximately $160 million in gross proceeds if the Warrants are fully exercised for cash. Transaction led by healthcare specialist investors, TCGX and Aisling Capital. Net proceeds from financing expected to extend cash runway into late 2025.

Want to catch up on more industry news? Check out a previous edition of the News You Might Have Missed

The post News You Might Have Missed: Aug 21st, 2023 appeared first on Microdose.

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