Ensysce acquires Cy Biopharma to advance CY200 pain therapy

What's the deal? Ensysce BiosciencesDealroom has a profile for this one. Try Dealroom → has completed its stock-for-stock merger with Cy BiopharmaDealroom has a profile for this one. Try Dealroom →, a clinical-stage biotech developing neuroplastogenic therapies for complex pain. Cy Biopharma's team and programme will join Ensysce, with the transaction bringing CY200 into Ensysce's pipeline.

Breaking down the numbers. The acquisition value was not disclosed. Concurrent financing includes $21.5 million in initial private-placement proceeds, $17.1 million in cash from Cy Biopharma's pre-acquisition convertible note financing, and a follow-on tranche of up to $38.6 million tied to a clinical-trial milestone.

What it means. The proceeds are expected to support CY200 through Phase 2 proof-of-concept data and into registrational development for Complex Regional Pain Syndrome Type 1. The programme has Orphan Drug Designation from the US Food and Drug AdministrationDealroom has a profile for this one. Try Dealroom →.

Who's backing it? The initial private placement was led by Ally Bridge GroupDealroom has a profile for this one. Try Dealroom →, with participation from Perceptive Advisors, Dellora InvestmentsDealroom has a profile for this one. Try Dealroom →, Ikarian CapitalDealroom has a profile for this one. Try Dealroom → and Adage CapitalDealroom has a profile for this one. Try Dealroom →.

Read more: PR-Inside.com

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