Mr. Doug Drysdale reports

CYBIN ANNOUNCES UNPRECEDENTED POSITIVE INTERIM PHASE 2 DATA FOR CYB003 IN MAJOR DEPRESSIVE DISORDER MEETING PRIMARY EFFICACY ENDPOINT WITH RAPID AND SIGNIFICANT IMPROVEMENTS IN DEPRESSION SYMPTOMS AFTER SINGLE DOSE - FULL TOPLINE DATA ON TRACK FOR Q4 2023

Cybin Inc. has released phase 2 interim results for CYB003, its proprietary deuterated psilocybin analogue, demonstrating a rapid, robust and statistically significant reduction in symptoms of depression three weeks following a single 12-milligram dose compared with placebo. At the three-week primary efficacy end point, the reduction in major depressive disorder (MDD) symptoms, defined as change from baseline in MADRS (Montgomery-Asberg Depression Rating Scale) total score, was superior in participants assigned to CYB003 compared with the participants who received placebo by 14.08 points (p equal to 0.0005; Cohen's d equal to 2.15). A p value indicates statistical significance. Generally, values less than 0.05 are considered statistically significant and values less than 0.001 are considered highly statistically significant.

"The overwhelmingly positive interim results for the 12-milligram dose of CYB003 are extremely encouraging for patients and providers. The efficacy demonstrated at that dosage showed an unprecedented reduction in depressive symptoms compared to currently available treatments," said Doug Drysdale, chief executive officer of Cybin. "With these encouraging results in hand, we look forward to sharing the full complement of top-line data later this quarter and 12-week durability data in the first quarter of 2024. Our planning continues as we prepare for a larger international, multisite phase 3 trial in early 2024 to further evaluate the safety and efficacy of CYB003 in people suffering from MDD."

The phase 2 clinical trial is evaluating efficacy using the MADRS scale, with a primary efficacy end point of reduction in depression symptoms (change from baseline in MADRS) at week 3 after a single administration. To date, dosing has been completed in all dose cohorts up to 16 milligrams, with a favourable safety and tolerability profile and no treatment-related serious adverse events observed. Interim results from the 12-milligram dose cohort have demonstrated a statistically significant and clinically meaningful reduction in symptoms of depression with a single dose at three weeks after treatment.

The MADRS is a 10-item, clinician-administered scale designed to measure overall severity of depressive symptoms in subjects with MDD. It is widely used in clinical trials and accepted by regulatory authorities worldwide as a measure of symptoms of depression. The MADRS includes items ranging from sadness of mood and reduction in sleep and appetite to difficulties in concentration, anhedonia, and negative and suicidal thoughts that are scored from 0 to 6, giving a total score ranging from 0 to 60. Typical score ranges for severity are: 0 to 6 -- normal; 7 to 19 -- mild; 20 to 34 -- moderate; and greater than 34 -- severe depression. In the CYB003 study, mean baseline total scores on the MADRS were 32.6 and 33.3 in the active and placebo groups, respectively.

Summary of CYB003 12-milligram interim efficacy data at three weeks:

• Rapid and statistically significant improvements in depression symptoms observed after single doses of CYB003:
  • Improvements in depression symptoms evident on the day after dosing, reaching a peak 10 days after dosing, and maintained thereafter;
  • Robust and statistically significant reduction in depression symptoms compared with placebo at three weeks, with a negative-14.08 difference in change from baseline in MADRS for CYB003 versus placebo (p equal to 0.0005);
• Robust response (greater than or equal to 50-per-cent reduction in MADRS) and remission (MADRS scores less than or equal to 10) rates at three weeks after single dose:
  • 53.3-per-cent response rate for CYB003 (12 milligrams ) versus 0 per cent for placebo;
  • 20.0-per-cent remission rate for CYB003 (12 milligrams) versus 0 per cent for placebo.

Safety and tolerability:

• CYB003 was well tolerated with no drug-related serious adverse events;
• All adverse events were mild or moderate in intensity and resolved spontaneously without intervention.

"These positive interim safety and efficacy results support progressing to pivotal studies. We plan to request an end of phase 2 meeting with the FDA [U.S. Food and Drug Administration] in early 2024 to align on phase 3 trial design, and we are commencing dosing with a capsule formulation of CYB003 in the bioequivalence cohort and further manufacturing of GMP [good manufacturing practice] materials that will be dose flexible, patient friendly and commercially scalable. This is an exciting time -- not only for Cybin, but for the entire psychedelics sector -- as we now have interim results showing a significant improvement in depressive symptoms with a single dose, moving us ever closer to delivering on our mission to improve the treatment landscape across the spectrum of mental health disorders," concluded Mr. Drysdale.

Cybin's chief medical officer, Amir Inamdar, said: "Mental health disorders affect almost one billion people worldwide. Co-morbid MDD occurs widely in medical and psychiatric disorders, including anxiety disorders and posttraumatic stress disorder. These interim results, together with emerging data from a number of academic studies, suggest that CYB003 may have therapeutic efficacy in range of mental health conditions."

Coming milestones

Full top-line safety and efficacy data from the CYB003 MDD study is expected by the end Q4 2023, with 12-week durability data anticipated in Q1 2024. Cybin plans to submit this top-line data to the FDA and request an end of phase 2 meeting to be held in Q1 2024. Recruiting for a CYB003 phase 3 study is anticipated to begin by the end of Q1 2024.

The company also expects to share top-line phase 1 data for CYB004 and SPL028, its proprietary novel deuterated N,N-dimethyltryptamine (DMT) compounds, before the end of 2023, supporting the initiation of a phase 2 study in participants with generalized anxiety disorder in Q1 2024.

Conference call details

Date:  Wednesday, Nov. 1, 2023

Time:  11 a.m. ET

Dial-in numbers:  800-245-3047 (U.S. toll-free) or 203-518-9765 (international)

Conference ID:  CYBN1101

The archived webcast will also be available on Cybin's investor relations website on the events and presentations page.

About the phase 1/2 CYB003 trial

The phase 1/2 trial is a randomized, double-blind, placebo-controlled study evaluating CYB003 in participants with moderate to severe MDD and in healthy volunteers. Participants with MDD received two administrations (placebo/active and active/active) three weeks apart and response/remission is assessed three weeks after each dose. MDD participants in the trial that are currently being treated with antidepressants are allowed to remain on their antidepressant medication.

The study is evaluating the safety, tolerability, pharmacokinetics and pharmacodynamics, and psychedelic effect of ascending oral doses of CYB003. In participants with MDD, the trial evaluates rapid onset of antidepressant effect on the day of dosing, using MADRS to evaluate the incremental benefit of a second dose of CYB003 when administered at week 3. An optional period of assessment will help determine the durability of treatment effect out to 12 weeks. The study is listed on ClinicalTrials.gov under identifier No. NCT05385783.

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.

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