Lobe Sciences Moves Forward with Development of Conjugated Psilocin(TM) Following April 14 Agreement to Spin Out Compound to Cynaptec Pharmaceuticals

• New subsidiary, Cynaptec Pharmaceuticals, established to hold global rights to Conjugated Psilocin™

• $6 million investment in Cynaptec Pharmaceuticals secured to advance research and early-stage clinical trials for chronic cluster headaches and addiction

Option for an additional $20 million investment in Cynaptec Pharmaceuticals to support Phase 3 clinical development

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / June 17, 2025 / Lobe Sciences Ltd., (CSE:LOBE)(OTCQB:LOBEF)(FWB:LOBE.F) a leading biopharmaceutical company focused on breakthrough treatments for rare diseases, is advancing the development of its novel compound, Conjugated Psilocin, following the April 14, 2025 spinout of the compound to the newly created Delaware corporation Cynaptec Pharmaceuticals, Inc. and signing of a key US$6 million investment non-brokered private placement agreement for preferred shares in Cynaptec Pharmaceuticals.

This funding supports preclinical research, Phase 1, and Phase 2a clinical trials as Lobe Sciences Ltd., via Cynaptec Pharmaceuticals, progresses toward new treatment options for chronic cluster headaches, one of the most painful neurological conditions and considered an Orphan Disease. In addition, an option for a further US$20 million investment remains available, which would support the Phase 3 clinical program. Chronic cluster headache affects over 60,000 people in the United States. Currently, there is no FDA-approved drug specifically for chronic cluster headaches. The only FDA-approved medication for clusterheadaches is Emgality (galcanezumab-glnm), but it is indicated only for episodic cluster headaches, not the chronic form. For chronic cluster headaches, treatment typically involves off-label use of medications such as verapamil at very high and potentially dangerous doses, lithium, corticosteroids, and oxygen therapy.

As part of this strategy, Lobe launched Cynaptec Pharmaceuticals, Inc., a Delaware-based private subsidiary now holding the worldwide rights and intellectual property for Conjugated Psilocin. Lobe transferred all relevant IP and commercial agreements to Cynaptec while retaining a 64% ownership stake after the initial $6 million investment.

Conjugated Psilocin is a stable, oral analog of psilocin (the active component of psilocybin) designed to deliver enhanced bioavailability and effectiveness without hallucinations. While the primary focus is treating chronic cluster headaches, ongoing research is also exploring its potential for substance use disorders, expanding its impact.