Mr. Doug Drysdale reports

CYBIN PROVIDES UPDATE ON ITS INTELLECTUAL PROPERTY PORTFOLIO

Cybin Inc. has provided an update on its intellectual property (IP) progress in support of its research and development strategy. The Company continues to prioritize the development of in-house IP and licensing opportunities that support its active development programs and future novel drug candidates.

Cybin currently has more than 20 active patent filings - 14 of which were filed this year alone - across 6 patent families. Additionally, the Company has entered into multiple licensing agreements that provide Cybin with additional access to IP from over 15 more patents or patent applications. Collectively, Cybin has access to more than 35 patents and applications through a combination of internal filings and licensing arrangements.

"Securing and maintaining a robust IP portfolio is an important component of our approach to successful drug development," said Doug Drysdale, Chief Executive Officer of Cybin. "We are focused on adding targeted IP that we believe complements our research and development strategy, supports our position as an innovator in the psychedelic therapeutics space, and will continue to build shareholder value."

Cybin's three-pillar strategy leverages the Company's core competencies in preclinical innovation and clinical development toward the creation of intellectual property focused on developing the Company's platform technology, the progression of clinical development programs including CYB003, a deuterated psilocybin analog, CYB004, a deuterated dimethyltryptamine (DMT), CYB005, phenethylamine derivatives, and an expansive list of preclinical molecules to facilitate future development opportunities.

"Supplemented by our agreements with multiple licensors, our IP extends across six patent families, and we have an expansive number of preclinical compounds to explore that have the potential to strengthen our R&D pipeline and support our mission of bringing important new therapeutic options to treating multiple mental health disorders," concluded Drysdale.

Cybin's wholly owned subsidiary Cybin IRL Limited recently entered into licensing agreements that collectively provide the Company with access to a broad range of preclinical molecule combinations for its library of psychedelic derivative drug development candidates. These agreements include the acquisition of an exclusive license to a targeted class of tryptamine-based molecules from Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) as announced by the Company in September 2022.

About Cybin

Cybin is a leading ethical biopharmaceutical company, working with a network of world-class partners and internationally recognized scientists, on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland. The Company is focused on progressing Psychedelics to Therapeutics by engineering proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health disorders.

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