Mr. Doug Drysdale reports

CYBIN ANNOUNCES GRANT OF U.S. PATENT COVERING PROPRIETARY DEUTERATED PSILOCYBIN ANALOG IN ITS CYB003 PROGRAM

The U.S. Patent and Trademark Office (USPTO) has granted U.S. patent No. 11,724,985 to a deuterated psilocybin analogue in the company's CYB003 investigational drug program. The patent, which is expected to provide exclusivity until 2041, includes composition of matter claims to deuterated tryptamines in support of the Company's clinical-stage programs, CYB003, a proprietary deuterated psilocybin analog, and CYB004, a proprietary deuterated dimethyltryptamine ("DMT"), in addition to other of the Company's pre-clinical programs, as well as claims directed towards methods of treating major depressive disorder ("MDD") and treatment-resistant depression.

CYB003 is an investigational proprietary deuterated psilocybin analog program being developed for the potential treatment of MDD. As a deuterated molecule, CYB003 is designed to potentially achieve an optimized therapeutic profile, including rapid onset of effect, short treatment duration, and efficacy at low doses. CYB003 is currently being evaluated in a Phase 2 clinical trial in participants with moderate to severe MDD.

CYB004 is an investigational deuterated DMT program in development for the potential treatment for Generalized Anxiety Disorder ("GAD"). CYB004 dosing underway is Part C of the Company's three-part Phase 1 CYB004-E clinical trial evaluating intravenous ("IV") DMT and CYB004 in healthy volunteers.

The Company expects to report topline Phase 2 efficacy data for CYB003 in MDD and topline Phase 1 data from the CYB004-E study in Q3/Q4 2023.

"We are very pleased to announce this composition of matter patent supporting our clinical-stage CYB003 program, which strengthens our growing intellectual property portfolio and leadership position as a developer of differentiated therapeutics for mental health, especially as we work diligently to advance our clinical trials towards topline data readouts later this year," said Doug Drysdale, Chief Executive Officer of Cybin. "With this patent granted, we move forward with conviction in our mission of bringing novel, improved treatment options to people suffering from anxiety and depression."

About Cybin

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 healthcare is supported by a network of world-class partners and internationally recognized scientists aimed at progressing proprietary drug discovery platforms, innovative drug delivery systems, and 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 molecule for generalized anxiety disorder and has a research pipeline of investigational psychedelic-based compounds.

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

We seek Safe Harbor.