Cybin Progresses Two Psychedelic Investigational New Drug (“IND”) Candidates and Announces Completion of Its 20th Pre-Clinical Study

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Cybin Inc. (NEO:CYBN) (OTCQB:CLXPF) (“Cybin” or the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, today announced that it has completed its 20th pre-clinical study and is progressing its CYB003 and CYB004 proprietary psychedelic molecules into Investigational New Drug (“IND”)-enabling studies.

Cybin, through collaboration with its partners and contractors, has completed key research studies both in vitro and in vivo. These studies were based on proprietary Cybin technologies, and in all, more than 20 definitive research studies designed by the Company’s scientists were completed in record time.

These studies have led to the progression of two very promising development candidates, CYB003 and CYB004. These two proprietary psychedelic therapeutics have now entered into full IND-enabling studies in preparation for soon to be defined clinical testing in serious psychiatric conditions with high unmet medical needs. The company has also initiated an API manufacturing contract with a strategic pharmaceutical manufacturing partner.

“Excellent team-work and fully supportive partners have greatly facilitated the advancement of these two new therapeutic candidates with enhanced and improved properties. We look forward to rapid progress towards clinical studies,” stated Michael Palfreyman, Chief R&D Officer of Cybin.

The pre-clinical studies of CYB003 and CYB004 candidates included API Synthesis and optimization to demonstrate that these two psychedelic molecules show significant in vivo modifications of pharmacokinetics (“PK”) consistent with “Proof of Concept.”

Cybin has developed a discovery pipeline of over 50 proprietary psychedelic molecules, multiple proprietary delivery mechanisms, and supportive technology platforms, all protected under its ever-growing IP portfolio. The development thesis is based on the need to create commercially viable drugs to meet the needs of patients and to easily integrate into the medical eco-system without the need of overly disrupting a practitioner and/or a patient’s busy schedule.

The company will continue to progress its novel next-generation psychedelics based on well-known scaffolds including Psilocybin, DMT, MDMA with improved bioavailability and optimized pharmacokinetic profiles to provide shorter duration of action with the potential for reduced side effects.

“Our internal research and development team, along with an extensive network of partners, has progressed CYB003 and CYB004 into IND-enabling studies at an impressive pace. I am in no doubt we have the best team in this sector and the right team to progress these exciting future treatments into clinical studies over the next 12 months,” stated Doug Drysdale, Chief Executive Officer of Cybin.

About Cybin

Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.

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