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From his beginnings at DuPont Merck to his current position as Cybin’s (NYSE:CYBN) CEO, Doug Drysdale has certainly had an eventful career.
“I seem to be drawn to opportunities that are poised for growth, whether that is from being undermanaged, distressed or a startup situation,” he said in an interview, explaining his previous experiences with companies that were between a rock and a hard place. For example, in 2014, Drysdale led the recapitalization of NASDAQ-listed Pernix Therapeutics (NASDAQ:PTX), raising $65 million and turning the company from EBITDA negative to EBITDA positive in two quarters.
Drysdale began his career in the early nineties and soon thereafter became head of mergers and acquisitions at Actavis—now owned by Allergan (NYSE:AGN)—in 2004. During his four years at the company, he led 15 corporate acquisitions and helped raise some $3 billion in capital.
During his tenure at Pernix Therapeutics, the company grew its valuation from around $80 million to roughly $800 million and raised $465 million in capital.
With a B.S. in Microbial and Molecular Biology from the University of East Anglia, Drysdale has come a long way to become a major player in the pharma industry.
But what made him get into the world of psychedelics? According to his comments made in interviews, Drysdale has had personal experiences with mental health disorders, among close friends battling depression and the passing of a close family member: “Lung cancer was the physical ailment, but addiction to Nicotine was the root cause,” he explained to Tyler Gallager.
For Drysdale, psychedelics represent a window of opportunity for developing novel therapies and treating mental health disorders and addictions, with the industry growing by the minute.
“I am a builder and really get a kick out of building teams and organizations,” Drysdale told Psychedelic Finance on one occasion. Cybin seems to be the living embodiment of that statement, being the first psychedelics company listed on the NYSE and at the forefront of psychedelics research.
This year, at the upcoming Benzinga Psychedelics Capital Conference, to be held on April 19 at the Fontainebleau Miami Beach Hotel in Florida, Doug Drysdale will share his vision and valuable insights about the burgeoning sector.
