Mr. Doug Drysdale reports

CYBIN HIGHLIGHTS 2022 ACCOMPLISHMENTS AND MILESTONES

Cybin Inc. has provided a year-end summary of its key milestone accomplishments in 2022.

"Two thousand twenty-two was a momentous year marked by steady progress across our pipeline of differentiated psychedelic-based therapeutics and partnerships targeting mental health. Most notable were the advancements of our two lead programs, CYB003 and CYB004, into clinical stage -- within less than 18 months since discovery -- which is a remarkable accomplishment, and a true testament to the strength of our team," said Doug Drysdale, Cybin's chief executive officer. "Along with our clinical programs, we have continued to execute on strategic opportunities to strengthen our intellectual property and generate value creation through the expansion of our preclinical drug discovery platform. Heading into 2023, we remain committed to leading the development of our innovative investigational therapies to address significant unmet needs for people with mental health conditions and delivering on key 2023 data catalysts, including top-line data from our ongoing CYB003 and CYB004 trials."

2022 highlights:

• Transitioned CYB003 from preclinical stage to a first-in-human trial, marking the first novel deuterated psilocybin analog to ever enter clinical development. CYB003, the company's proprietary deuterated psilocybin analog, has demonstrated several key advantages over oral psilocybin in preclinical studies, including faster onset of action, shorter duration of effect and less variability in plasma levels. CYB003's therapeutic profile as a differentiated treatment for major depressive disorder was highlighted in poster presentations at multiple scientific conferences in 2022. The company expects to provide an interim safety and pharmacokinetic readout from the phase 1/2a trial in early 2023.
• Accelerated the development of CYB004 with the strategic acquisition of a phase I DMT study (CYB004-E). The CYB004-E study evaluating IV N,N-dimethyltryptamine (DMT) is expected to yield essential safety and dosing optimization data that will inform further clinical advancement of CYB004 (deuterated DMT) for the treatment of anxiety disorders. To date, the trial has completed dosing of four out of five cohorts with no clinically significant safety or tolerability issues. During the year, Cybin secured intellectual property (IP) protection for CYB004, including a U.S. patent covering CYB004 composition of matter, and filed patent applications for inhalation delivery of multiple psychedelic molecules, including CYB004. In April, 2022, the company announced positive preclinical data demonstrating the significant advantages of CYB004 over intravenous and inhaled DMT, including rapid onset and longer duration of action. Cybin expects to provide an update on the phase 1 CYB004-E study in the first quarter of 2023.
• Strengthened the company's IP through the strategic acquisition of an exclusive licence to a targeted catalogue of psychedelic-based compounds from Mindset Pharma Inc. The exclusive licence provides Cybin with access to an expansive number of preclinical molecules that complement the company's research and development strategy and current preclinical library and also serves to expand the company's discovery and development platform.
• Continued to grow its IP portfolio to support current and planned preclinical studies and future development programs. Over the course of 2022, Cybin continued to strengthen its intellectual property portfolio that now includes access to over 35 patents and applications across six patent families through internal filings and licensing arrangements.
• Initiated and expanded a psychological support training program for psychedelic-based treatments utilizing Embark, a leading-edge model of psychedelic-assisted psychotherapy co-developed by Dr. Alex Belser, Cybin's chief clinical officer. The Embark model is currently being implemented in two clinical-stage trials, including Cybin's phase 1/2a trial evaluating the company's investigational deuterated psilocybin analog, CYB003.
• Awarded psilocybin company of the year at the Second Annual Microdose Awards, recognizing Cybin's leadership in innovating psilocybin-based therapeutics and commitment to improving the lives of patients. The award marks the second year in a row Cybin was awarded a Microdose Award as voted on by the psychedelic industry.
• Launched a $35-million (U.S.) at-the-market equity program to support the company's continuing operations and future pipeline growth and strategic opportunities.

About Cybin Inc.

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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