Ensysce Biosciences, Inc. (NASDAQ:ENSC) (“Ensysce” or the “Company”) announces 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.
Read the full article: Ensysce Biosciences Announces Acquisition of Cy Biopharma and up to $77M Private Financing //
Source: https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/ensysce-biosciences-announces-acquisition-of-cy-biopharma-and-up-to-7-1203416