Mr. Doug Drysdale reports

CYBIN HIGHLIGHTS RECENT TOPLINE RESULTS AND OUTLINES KEY UPCOMING MILESTONES ACROSS ITS CLINICAL DEVELOPMENT PROGRAMS

Cybin Inc. has outlined its recent positive phase 2 CYB003 top-line results in major depressive disorder (MDD) and near-term milestones across its clinical-stage deuterated psilocybin and dDMT (deuterated N,N-dimethyltryptamine) programs in development for the treatment of multiple mental health conditions.

"The recently reported safety and efficacy data sets from our lead clinical programs compare extremely favourably to currently approved treatments for depression and anxiety disorders, where there remain significant unmet needs for patients. The first quarter of 2024 should be another active and productive period for us, as we advance our clinical programs. For CYB003, we expect to have 12-week efficacy data and an end-of-phase-2 meeting with the U.S. Food and Drug Administration (FDA). That discussion will inform the design of a phase 3 study, which we plan to commence around the end of the first quarter. For our dDMT programs, we plan to initiate a phase 2 trial of CYB004 in generalized anxiety disorder (GAD)," said Doug Drysdale, chief executive officer of Cybin. "As we look ahead, we see enormous opportunities for progress across our differentiated programs and development pipeline. With each promising data set, we gain confidence in our ability to revolutionize the treatment of mental health disorders and to give patients and providers hope for longer lasting and improved outcomes."

CYB003: deuterated psilocybin analogue program for the treatment of MDD

The company completed a phase 1/2a study evaluating CYB003, a proprietary deuterated psilocybin analogue, as an adjunctive therapy in participants with moderate to severe MDD. The phase 2 results, which showed robust improvements in depression symptoms after single doses of CYB003, and a 79-per-cent remission rate from depression symptoms at six weeks after two doses of CYB003 (12 milligrams), support progression to a multinational, multisite phase 3 trial in early 2024.

The CYB003 program is supported by two composition of matter patents expected to provide coverage until at least 2041.

Summary of CYB003 phase 2 top-line efficacy data:

• 79 per cent of patients remained in remission from their depression six weeks after receiving two doses of CYB003 (12 mg);
• Rapid and large improvements in symptoms of depression observed after single doses of CYB003:
  • A mean minus-13.75-point difference in Montgomery-Asberg depression rating scale score (MADRS) between CYB003 (12 mg and 16 mg cohorts pooled) and placebo which is statistically significant at three weeks.
• Clear incremental benefit of a second dose:
  • Incremental and sustained benefit seen as a further 5.8-point improvement on the MADRS total score with a second dose of CYB003 (12 mg) at six weeks.
• Magnitude of improvement far superior compared with approved antidepressants and recently reported data with other psychedelics:
  • Effects translate into unprecedented effect size;
  • These results compare favourably with pooled data from 232 industry studies of current standard of care antidepressants, selective serotonin reuptake inhibitors (SSRIs), submitted to U.S. Food and Drug Administration which show an average improvement of 1.82 points on the MADRS total score versus placebo.
• Demonstrated an excellent safety profile in doses tested, with all reported adverse events mild to moderate and self-limiting.

Coming milestones for CYB003 program:

• Additional phase 2 data assessing durability of efficacy for CYB003 at 12 weeks expected in Q1 2024;
• FDA end-of-phase-2 meeting in early 2024;
• Initiate phase 3 trial of CYB003 in MDD in early 2024, with recruiting expected to begin around the end of Q1 2024.

DMT program (CYB004, SPL028, SPL026)

Cybin's portfolio includes the most advanced and extensive DMT data set in the psychedelic drug development sector. The company's DMT portfolio comprises dDMT molecules CYB004 and SPL028, which have the potential for less invasive, more convenient and patient-friendly dosing methods, in addition to SPL026, intravenous (IV) DMT. CYB004, Cybin's proprietary dDMT molecule, is protected by a U.S. composition of matter patent expected to provide coverage until at least 2041.

Program highlights

The company has completed multiple clinical trials providing proof of concept for its DMT/dDMT assets, including:

• Phase 2a safety and efficacy for SPL026 (IV DMT) in 34 participants with MDD, demonstrating a clinically relevant and statistically significant reduction in depression symptoms at two weeks after dosing (minus-7.4-point difference in MADRS between SPL026 and placebo). A durable antidepressant response and remission rates were observed at six months. Among participants who had achieved remission within three months with SPL026, 64 per cent sustained remission to six months;
• Phase 1 studies evaluating intramuscular (IM) SPL026 and SPL028 supporting IM administration for patient-friendly dosing, with phase 1 IM/IV SPL028 data expected early Q1 2024;
• Phase 1b study evaluating the safety and efficacy of SPL026 in conjunction with SSRIs in 17 participants with MDD, demonstrating a favourable safety profile and enhanced efficacy when SPL026 was administered with SSRIs, and a 92-per-cent remission rate at four weeks in the SSRI cohort;
• Phase 1 study evaluating safety, dosing, and pharmacokinetics (PK) and pharmacodynamics (PD) of IV DMT and CYB004, with coming data expected to inform next steps for phase 2.

Coming milestones for dDMT program:

• Phase 1 top-line data for CYB004 expected early Q1 2024;
• Phase 1 data for IM/IV SPL028 expected early Q1 2024;
• Initiate phase 2 GAD study in Q1 2024.

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 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.