Cybin Announces New Adelia Milestone Achievement

TORONTO–(BUSINESS WIRE)–Cybin Inc. (NEO: CYBN) (US NYSE: CYBN) (“Cybin“or the”Society”), a biotechnology company focused on advancing psychedelics into therapeutics™, is pleased to announce that Adelia Therapeutics Inc. (“Adelie“), a wholly owned subsidiary of Cybin, has achieved milestones identified as Y1, Q4(iv), Y1, Q4(v) and Y2, Q1(vi) as contemplated by the terms of a contribution agreement dated 4 December, 2020 (the “Settlement agreement”) among Cybin, Cybin Corp., Cybin US Holdings Inc. (the “Acquirer), a 100% subsidiary of Cybin, and all of the former shareholders of Adélia (the “Adelia shareholders”).

Pursuant to the terms of the transaction agreement, the class B ordinary shares in the capital of the acquirer (the “Class B Shares”) will be issued to Adelia Shareholders, in settlement of the USD 551,171.99 (approximately USD 437,229.88) due to them upon the achievement of part of the relevant milestones, at an effective issue price determined in accordance with the Transaction Agreement and applicable securities laws. Class B Shares issued by the Purchaser to Adelia Shareholders are exchangeable for ordinary shares in the capital of Cybin (the “Cybin Stocks”) on a basis of 10 Cybin Shares for 1 Class B Share, at the option of their holder, subject to customary adjustments. No Class B shares were exchangeable before December 14, 2021 and at most: (i) 33 1/3% of the Class B shares will be exchangeable before December 14, 2022; (ii) 66 2/3% of the Class B shares will be exchangeable before December 14, 2023; and (iii) thereafter, 100% of the Class B Shares will be exchangeable.

Additional information relating to the transaction is available in the transaction agreement, which is filed under Cybin’s profile on SEDAR (www.sedar.com) and with the United States Securities and Exchange Commission on EDGAR at www.sec.gov.

About Cybin

Cybin is a leading ethical biotechnology company, working with a network of world-class partners and internationally renowned scientists, to create safe and effective therapies for patients to treat a multitude of mental health conditions. . Based in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom and Ireland. The Company is focused on advancing psychedelics into Therapeutics™ by designing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health disorders.

About Adelia

Adelia is a wholly owned subsidiary of the Company, which aims to develop medicinal psychedelics with improved dosing efficacy and therapeutic indices to address unmet medical needs. Adelia’s main objective is the development of therapeutic regimens composed of proprietary psychedelic molecules and associated clinical protocols. This proprietary development strategy is based on chemical modifications of known and well understood tryptamine derivatives that significantly alter their pharmacokinetic properties without changing their therapeutic potential. These proprietary approaches aim to minimize inter-patient variability by better controlling drug metabolism without loss of efficacy which together have been shown to produce more predictable and favorable outcomes for patients.

Cautionary Notes and Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding Cybin’s future, strategy, plans, objectives, goals and targets, and all statements preceded by, followed by, or containing the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “expect”, “predict”, “plan”, “seek”, “should” or similar expressions or their negative forms, are forward-looking statements. this press release include statements regarding the company’s development of innovative drug delivery systems, new formulation approaches and potential treatment regimens for psychiatric disorders, as well as Adelia’s proprietary development strategy and the development of medicinal psychedelics with improved dosing efficacy and therapeutic indices to address unmet medical needs. Needs.

These forward-looking statements are based on reasonable assumptions and estimates made by the management of the Company at the time such statements were made. Actual future results may differ materially because forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the results, performance or achievements future expressed or implied by such forward-looking statements. These factors include, among others: the implications of the COVID-19 pandemic on the Company’s operations; fluctuations in general macroeconomic conditions; fluctuations in the securities markets; expectations regarding the size of the psychedelic market; the Company’s ability to successfully achieve its business objectives; growth plans; political, social and environmental uncertainties; employee relations; the presence of laws and regulations that may impose restrictions on the markets in which the Company operates; and the risk factors set out in the Company’s management report for the three and six months ended September 30, 2021 and the Company’s listing statement dated November 9, 2020, which are available under the Company’s profile on www.sedar.com and with the United States Securities and Exchange Commission on EDGAR at www.sec.gov. Although the forward-looking statements contained in this press release are based on what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such statements. forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this press release. The Company undertakes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors should they change, except as required by law.

Cybin makes no medical, treatment or health benefit claims regarding the products offered by Cybin. The United States Food and Drug Administration, Health Canada, or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives, or other psychedelic compounds or nutraceuticals. The effectiveness of these products has not been confirmed by approved research. There is no guarantee that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives, or other psychedelic or nutraceutical compounds will diagnose, treat, cure, or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of the products offered. Any reference to the quality, consistency, efficacy and safety of potential products does not imply that Cybin has verified it in clinical trials or that Cybin will complete such trials. Failure by Cybin to obtain the necessary approvals or research to commercialize its business could have a material adverse effect on Cybin’s performance and operations.

Neither Neo Exchange Inc. nor NYSE American LLC has approved or disapproved of the contents of this press release and is not responsible for the adequacy and accuracy of the contents.

Unless otherwise indicated, all dollar amounts in this press release are expressed in Canadian dollars.

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