2 minute read | August.07.2026
Cy Biopharma, Inc. has been acquired by Ensysce Biosciences, Inc. (NASDAQ: ENSC).
The associated private financing for up to $77 million consists of:
Orrick advised Cy Biopharma.
Ensysce Biosciences is a clinical-stage company with a goal of disrupting the analgesic landscape by introducing a new class of highly novel opioids for the treatment of severe pain.
Cy Biopharma is a clinical-stage biotechnology company developing novel neuroplastogenic therapies for severe chronic pain disorders. The company is advancing innovative treatments designed to address the underlying mechanisms of Complex Regional Pain Syndrome (CRPS) with the goal of delivering durable clinical benefit for patients with significant unmet medical need.
The net proceeds from the investment will support the advancement of CY200 as a novel approach to treating CRPS Type 1, which has received U.S. Food and Drug Administration (FDA) Orphan Drug Designation. The funds are expected to carry CY200 through key clinical milestones, including topline data from a randomized Phase 2 clinical trial assessing the efficacy, safety, and tolerability of CY200 for symptom alleviation in participants with CRPS Type 1, and to prepare for registrational development. Importantly, the company believes the Orphan Drug Designation will provide critical regulatory and commercial advantages.
Following completion of the transaction, James Morrison, Founder and Chief Executive Officer of Cy Biopharma, will serve as President of the merged company and will join its Board of Directors.
The transatlantic Orrick team was led by Ed Dyson, Niki Fang, David Schulman, Kayla Southworth, Catherine Conners, Megan McKnelly, Kelly Mink and Abigail Parkin, with invaluable support from Laura Becking, Katie Briscoe, Georgia Ravitz, Rebecca Servian, Eric Wall, Jason Wu, Mike Yang, Shari Esfahani, Ray Liang, J.P. Schreiber, Keith Tidwell, and Julie Thompson.