Mergers & Acquisitions ·
Ensysce Biosciences, Inc. completed the acquisition of clinical-stage biotechnology company Cy Biopharma in a…
ENSCWEnsysce Biosciences, Inc.
Ensysce Biosciences, Inc. completed the acquisition of clinical-stage biotechnology company Cy Biopharma in a stock-for-stock merger. Concurrently, the Company raised up to $77 million through private placement financing consisting of an initial tranche generating approximately $21.5 million and a follow-on tranche of up to $38.6 million contingent on achieving a clinical trial milestone. The acquisition brings Cy Biopharma’s lead candidate CY200, a neuroplastogenic therapy for Complex Regional Pain Syndrome with FDA Orphan Drug Designation, into Ensysce's pipeline. James Morrison, Cy Biopharma’s founder and CEO, will serve as President of the combined company. This transaction is material as it significantly alters the Company's asset base, capital structure, and strategic focus. Ensysce Biosciences operates in the biotechnology industry, developing novel opioid therapies for severe pain.