AcquisitionsAug 6, 2026, 08:28 AM
Ensysce Biosciences Acquires Cy Biopharma; Secures $77M Financing
AI Summary
Ensysce Biosciences, Inc. has completed the acquisition of Cy Biopharma, Inc., a clinical-stage biotechnology company developing neuroplastogenic therapies for Complex Regional Pain Syndrome (CRPS). The acquisition includes CY-200, which has U.S. FDA Orphan Drug Designation. Concurrent with the acquisition, Ensysce secured up to $77 million in private placement financing, including an initial close of $21.5 million and $17.1 million from Cy Biopharma's pre-acquisition financing, with a potential $38.6 million follow-on tranche. The funds are expected to advance CY-200 through Phase 2 proof-of-concept data and into registrational development.
Key Highlights
- Ensysce Biosciences acquired Cy Biopharma, a clinical-stage biotech company.
- Acquisition includes CY-200, a neuroplastogenic therapy with US FDA Orphan Drug Designation.
- Secured up to $77 million in private placement financing concurrent with the acquisition.
- Initial close of private placement financing is $21.5 million.
- Includes $17.1 million of Cy Biopharma's cash from a pre-acquisition convertible note financing.
- Up to $38.6 million follow-on tranche upon achievement of a clinical trial milestone.
- James Morrison, Cy Biopharma's CEO, will serve as Ensysce's President and join its Board.
- Post-merger, Cy Biopharma's former equityholders will own approximately 73.86% of Ensysce.
Price Impact
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