Cilo Cybin revives JSE listing plans

Cilo Cybin Holdings Ltd, a Johannesburg-based medical cannabis company, is making waves in the industry with its successful IPO announcement. The firm recently secured $3 million in funding from ALPS Global Holding Berhad, surpassing its minimum fundraising target of 50 million Rans. With a focus on acquiring viable assets in the biotech, biohacking, and pharmaceutical sectors, Cilo Cybin is set to expand its operations and make a mark in the evolving cannabis market. CEO Gabriel Theron shared insights on the company's growth trajectory and strategic plans during a recent interview with CNBC Africa. Theron expressed confidence in Cilo Cybin's progress, highlighting the positive response to the IPO among investors. One key aspect of Cilo Cybin's strategy is the acquisition of viable assets, starting with Sales Cyber Pharmaceutical, a vertically integrated cannabis company based in Medren. Previously unprofitable, Sales Cyber Pharmaceutical is now expected to generate a small profit by the end of the current financial year. Theron also hinted at future acquisitions and expansion plans to enhance the company's production capacity. In addition to the cannabis segment, Cilo Cybin is exploring opportunities in the psychedelic realm, focusing on research and development in collaboration with Alps. Theron emphasized the importance of R&D investment to stay competitive and capitalize on emerging markets. The company aims to conduct clinical trials on medicinal cannabis products and expand its reach to the global market. Addressing regulatory challenges in South Africa, Theron discussed the evolving landscape of psychedelics, highlighting the potential for growth in this segment. With the recent approval for doctors to prescribe MDMA and psilocybin in Australia, the psychedelic market is gaining momentum, presenting new avenues for expansion. When it comes to market competition, Cilo Cybin sees opportunities in regions like Australia, Europe, and the Middle East. Leveraging its manufacturing capabilities, the company aims to tap into these markets and establish a strong presence. Theron underlined the significance of coming in early to capitalize on the flourishing cannabis industry and emphasized the value proposition for current and future investors. As Cilo Cybin navigates the dynamic landscape of the medical cannabis sector, its successful IPO and strategic expansion plans position the company for growth and innovation. With a strong focus on profitability, R&D, and market expansion, Cilo Cybin is poised to make a significant impact in the ever-evolving cannabis industry.