Ensysce Biosciences Announces Acquisition of Cy Biopharma and up to $77 Million Private FinancingAcquisition includes clinical-stage neuroplastogenic therapy with U.S. FDA Orphan Drug Designation for the treatment of Complex Regional Pain Syndrome (CRPS) Up to $77 million in private financing consisting of $21.5 million in private placement financing at initial close plus $17.1 million of Cy Biopharma's cash and cash equivalents from a pre-acquisition convertible note financing and up to $38.6 million upon achievement of clinical trial milestone Pro forma cash expected to fund CY200 through Phase 2 proof-of-concept data and into registrational development SAN DIEGO, CA / ACCESS Newswire / August 6, 2026 / Ensysce Biosciences, Inc. (NASDAQ:ENSC) ("Ensysce" or the "Company") today announced it has completed the acquisition of Cy Biopharma, Inc. ("Cy Biopharma"), a privately held clinical-stage biotechnology company developing novel neuroplastogenic therapies beyond mood disorders, with an initial focus on complex pain. Concurrent with the acquisition that brought in $17.1 million in cash from a pre-acquisition convertible note financing, Ensysce entered into a definitive agreement for the sale of Series C non-voting convertible preferred stock (with a conversion ratio of preferred to common at 1:1,000) (the "Series C Preferred Stock") in a private placement financing, which is expected to result in gross proceeds to the Company of approximately $21.5 million at the initial close before deducting placement agent fees and other offering and transaction expenses, and includes up to a $38.6 million follow-on tranche that is expected to fund development of CY200 into 2028.
Accesswire8/6/2026Neutral