Through its wholly-owned subsidiary, Cybin IRL Limited, Canadian-based psychedelics biotech Cybin Inc. (NYSE:CYBN) signed an agreement with next-gen psychedelics producer Mindset Pharma Inc. (OTCQB:MSSTF) for an exclusive intellectual property license related to preclinical compounds within the latter’s Family 1 proprietary class of tryptamine-based molecules, excluding Mindset’s lead drug candidate MSP-1014.
The license purchase fee was set at $500,000, with additional milestones payable upon achieving certain milestones, and will provide Cybin access to a catalog of molecules –both chemistry and properties- complementing its current preclinical drug candidates library.
