Billionaire hedge fund and NY Mets owner, Steve Cohen amped up his support for psychedelics R&D through a new investment of nearly $19 million in beneficially owned shares of Cybin Inc. (NYSE: CYBN).
The considerably large acquisition puts Cybin in the limelight with credibility status in ongoing and future work (see Cybin’s recent acquisition announcement of DMT therapeutics developer Small Pharma (OTCMKTS: DMTTF).
Together with his wife Alexandra, the Wall Street tycoon has been funding groundbreaking projects with these compounds in past years to the tune of over $31 million in donations.
The couple’s foundation has been one of the largest donors to MAPS’ MDMA clinical research, which recently published new, highly encouraging results for PTSD treatment.
The shares, purchased through Cohen’s Point72 asset management firm, add to the institutional investment the sector recently received and its further validation.
Owning over $26 billion in assets, the firm shared the purchase of …