Mr. Doug Drysale reports

CYBIN ANNOUNCES SCIENTIFIC MANAGEMENT TRANSITION FOLLOWING ACHIEVEMENT OF FINAL ADELIA MILESTONES

Cybin Inc. has made changes to its scientific management team. Following the achievement of the final milestones as contemplated by the terms of a contribution agreement dated Dec. 4, 2020, between Cybin and Adelia Therapeutics Inc., a wholly controlled subsidiary of Cybin, Michael Palfreyman, PhD, and Brett Greene, who joined Cybin as part of the acquisition of Adelia, will leave their roles as chief research and development officer and chief innovations officer, respectively, and transition into advisory roles at Cybin. Alex Nivorozhkin, PhD, one of Adelia's founders, will continue in his role as chief scientific officer of Cybin.

"We are extremely grateful for the opportunity to work with Mike and Brett, whose deep knowledge of psychedelics and drug development has helped Cybin to advance its programs quickly and efficiently to the clinic," said Doug Drysdale, chief executive officer of Cybin. "The Adelia acquisition was highly successful, providing us with many of the tools needed to accelerate our programs through the clinic and progressing our novel psychedelic-based therapeutics for patients in need. Cybin and Adelia established ambitious goals at the time of the acquisition, and Mike and Brett were integral to achieving them. We look forward to their continued contributions in their new roles as advisers to Cybin."

The Adelia acquisition and the achievement of these milestones, which were focused on bringing Cybin's psychedelic programs from the lab to the clinic, have supported Cybin's transition from a discovery- to clinical-stage development organization. As Cybin has advanced its research and development pipeline, these milestone achievements have contributed to discovering potential new drug formulations and delivery methods, creating clinical protocols for psychedelic compounds, and supporting clinical-stage development of the company's CYB003 and CYB004 programs for major depressive disorder (MDD) and generalized anxiety disorder (GAD), respectively. The work of Cybin's research and development team has also helped build a robust intellectual property portfolio, with more than 50 granted or pending patent applications across six patent families. The company's team of scientists remains focused on advancing its CYB003 and CYB004 programs and discovering new and proprietary psychedelic-based therapeutics for other mental health conditions.

Coming clinical milestones:

• CYB003 -- deuterated psilocybin analog for the potential treatment of MDD: The company plans to provide top-line efficacy data from the continuing phase 1/2a MDD study in late Q3 2023.
• CYB004 -- deuterated DMT for the potential treatment of GAD: CYB004 dosing is currently under way in Part C of the phase 1 CYB004-E study. The company expects to report phase 1 top-line safety and efficacy data in Q3 2023.

About Cybin Inc.

Cybin is a clinical-stage biopharmaceutical company on a mission to create safe and effective psychedelic-based therapeutics to address the large unmet need for new and innovative treatment options for people who suffer from mental health conditions.

Cybin's goal of revolutionizing mental health care is supported by a network of world-class partners and internationally recognized scientists aimed at progressing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens. The company is currently developing CYB003, a proprietary deuterated psilocybin analog for the treatment of major depressive disorder, and CYB004, a proprietary deuterated DMT (N,N-dimethyltryptamine) molecule for generalized anxiety disorder, and has a research pipeline of investigational psychedelic-based compounds.

Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland.

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