Mr. Doug Drysdale reports

CYBIN ANNOUNCES GRANT OF EUROPEAN PATENT PROTECTING ITS PROPRIETARY DEUTERATED PROGRAMS

The European Patent Office (EP) has granted a patent protecting Cybin Inc.'s proprietary deuterated psilocybin analogue and N,N-dimethyltryptamine (DMT) programs.

EP patent No. 4,031,529 provides composition of matter protection for certain deuterated tryptamine compounds, including deuterated psilocybin analogues within the CYB003 program and deuterated analogues of DMT within Cybin's DMT program, as well as their medical use.

"Maintaining a secure intellectual property position is fundamental to our development strategy as we continue to advance our novel molecules and optimize their therapeutic benefits," said Doug Drysdale, chief executive officer of Cybin. "Following quickly on from the two recently announced U.S. patents granted in respect of our deuterated DMT program, this European patent further strengthens our intellectual property protection around our deuterated DMT and deuterated psilocybin programs. With 33 granted patents and over 170 pending applications, Cybin now has one of the most robust intellectual property portfolios in the psychedelic drug development sector."

Cybin's deuterated psilocybin analogue program, CYB003, has completed dosing in a phase 2 trial in major depressive disorder (MDD). Interim findings have demonstrated that CYB003 led to a robust psychedelic response in participants at low doses while maintaining a safe and well-tolerated therapeutic profile.

Cybin's proprietary novel deuterated DMT compounds, CYB004 and SPL028, are each currently in phase I clinical trials. CYB004 and SPL028 target an extended DMT psychedelic experience while retaining a short-duration drug profile that could provide optimized dose formulations for different administration routes and distinct therapeutic benefits for patients. Preliminary findings from the studies demonstrate that IV (intravenous) CYB004 and SPL028 elicit a psychedelic experience of less than one hour and are well tolerated.

The company expects to report top-line data from its deuterated psilocybin and DMT programs in the fourth quarter of 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, and novel formulation approaches and treatment regimens. The company is currently developing CYB003, a proprietary deuterated psilocybin analogue 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, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland.

We seek Safe Harbor.