Cybin (NYSE American: CYBN) (Cboe CA: CYBN), a clinical-stage biopharmaceutical company committed to revolutionizing mental healthcare by developing new and innovative next-generation psychedelic treatment options, is reporting the initiation of a Phase 2 proof-of-concept study of CYB004, its proprietary deuterated dimethyltryptamine (“DMT”) molecule in development for the treatment of generalized anxiety disorder (“GAD”). The randomized, double-blind study will evaluate the safety and efficacy of CYB004 in participants with GAD, with concomitant antidepressant/anxiolytic treatment and co-morbid depression allowed. “Initiation of the Phase 2 study of CYB004 for GAD is an exciting step forward for our deuterated DMT program,” said Doug Drysdale, CEO of Cybin. “One of our most important goals is to achieve a scalable, short-duration psychedelic experience for the patient, in the hopes of potentially disrupting negative, ruminative thought patterns. We are building on foundational investigative work from our Phase 2a trial of intravenous SPL026 (‘DMT’), which showed preliminary evidence of effectiveness treating anxiety with rapid onset of antidepressant effects and reduction in anxiety scores.”

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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 healthcare 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 analog 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. For company updates and to learn more about Cybin, visit www.Cybin.com.

NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://ibn.fm/CYBN

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