Mr. Philip Young reports

LOBE SCIENCES PROVIDES UPDATE ON L-130 ORAL PSILOCIN COMPOUND

Lobe Sciences Ltd.'s lead clinical asset, L-130, a proprietary stabilized psilocin conjugate drug candidate, recently surpassed the 12-month stability milestone with no signs of degradation. The company believes the updated stability report for L-130 is significant, as to date, no manufacturer of psilocin has reported a formulation of psilocin stable enough to be administered in a shelf-stable orally available formulation.

"L-130 was designed in collaboration with Quality Chemical Laboratories (QCL) based on the needs for a shelf-stable oral molecule that can consistently deliver psilocin directly, therefore eliminating the inconsistencies and variabilities seen with psilocybin. This is principally due to psilocybin's need for first-pass metabolism," stated Philip Young, chairman and chief executive officer of Lobe Sciences.

Dr. Yousry Sayed, founder and chief executive officer of QCL, said: "Our team has been happy to be part of such an exciting and innovative collaboration. We look forward to our ongoing partnership with Lobe as we work to deliver needed therapies to patients with orphan diseases."

Lobe believes that L-130 delivers significant therapeutic advantages over other psilocybin formulations as psilocybin itself is not biologically active in humans and must be converted into psilocin via dephosphorylation in the gut. By eliminating this first pass metabolism, industry experts believe that direct administration of psilocin may offer therapeutic benefits such as faster onset time, improved dosing consistency, increased bioavailability and importantly, the potential for reduced side effects.

Management will be meeting with prospective investors and corporate partners during the 42nd annual J.P. Morgan Healthcare Conference in San Francisco on Jan. 8 to 11. To schedule a meeting please contact ir@lobesciences.

About Lobe Sciences Ltd.

Lobe Sciences is a biopharmaceutical company focused on developing transformative medicines to treat rare diseases. The company, through collaborations with industry-leading partners, is additionally engaged in drug research and development using non-hallucinatory doses of stabilized psilocin based compounds to address unmet medical needs in orphan neurological therapeutic applications.

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