Cilo Cybin reignites JSE listing

After facing a setback last year with a failed attempt to list on the JSE, Cilo Cybin is back on track with the support of Malaysian biotechnology firm ALPS Global Holding Berhard (ALPS). With ALPS acquiring a 10 per cent equity stake in the company and underwriting the IPO, Cilo Cybin is poised for success in the upcoming listing. In a recent interview on CNBC Africa, Gabriel Tharan, CEO of Cilo Cybin, shed light on the partnership and the company's future plans. Tharan discussed the challenges faced in the past and how the current backing from ALPS is a game-changer for Cilo Cybin. Tharan revealed that the partnership with ALPS was in the works since last year, but due to delays on the firm's end, the listing had to be put on hold. However, the wait seems to have been worthwhile as the collaboration with ALPS brings added expertise in clinical trials, human genome editing, and stem cell treatments to the table. This aligns perfectly with Cilo Cybin's vision of developing pharmaceutical products and entering the global market. With a focus on biotechnology, biohacking, and the pharmaceutical sector, Cilo Cybin aims to leverage ALPS' resources to expand its reach. Tharan highlighted the company's plans to enhance its capacity in the cannabis industry in South Africa, develop products for export, and capitalize on Alps' upcoming NASDAQ listing later this year. In terms of the IPO, Cilo Cybin is taking a phased approach. The company plans to initially list on the Alt-X with ALPS committing to meet the minimum requirements for the listing. With a target of raising approximately R5 million to achieve the 10% public spread required by the JSE, Cilo Cybin is laying the groundwork for future growth and acquisitions. Tharan emphasized the need for a two-pronged approach, tapping into both local and global markets. While acknowledging the challenges of the regulatory environment in South Africa, he mentioned exciting partnerships in the pipeline to address local market access and patient needs. Looking ahead, Cilo Cybin sees vast opportunities in the cannabis value chain, from medical applications to industrial uses like replacing plastics with hemp byproducts. Tharan highlighted the need for a holistic approach to drive innovation in the industry and overcome regulatory constraints. As the company positions itself for investor interest, Tharan expressed gratitude to early supporters and outlined plans to attract larger institutions in the future. By taking incremental steps towards growth and expansion, Cilo Cybin aims to attract broader investor interest and solidify its position in the market. With the backing of ALPS Global Holding Berhard and a strategic roadmap in place, Cilo Cybin is set to reignite its listing on the JSE and embark on a new phase of growth and development.