Lobe Sciences Ltd. — Capital/Financing Update 2025

Jun 18, 2025

LobeSciences

Press Release

Lobe Sciences Completes Spinout of Conjugated Psilocin to New Subsidiary Cynaptec Pharmaceuticals; Announces US$6 Million Investment and Option for Additional Funding

• Lobe Sciences Ltd. successfully completed the spinout of its proprietary Conjugated Psilocin compound to Cynaptec Pharmaceuticals, Inc., alongside a US$6 million non-brokered private placement.
• The transaction transfers all global rights and IP to Cynaptec, with Lobe retaining a 64% ownership stake and securing an option for an additional US$20 million investment.
• Proceeds from the financing will advance Conjugated Psilocin’s development for chronic cluster headaches and substance use disorders, both underserved conditions with significant unmet medical need.

June 17, 2025

Vancouver, B.C. – Lobe Sciences Ltd. ("Lobe" or the "Company") is pleased to announce the successful closing of the previously announced spinout of its proprietary compound, Conjugated Psilocin, to Cynaptec Pharmaceuticals, Inc. ("Cynaptec"), a newly incorporated Delaware-based subsidiary. This milestone follows the execution of an agreement on April 14, 2025, and includes the closing of a US$6 million non-brokered private placement in preferred shares of Cynaptec.

As part of the spinout, Lobe transferred all global rights and intellectual property related to Conjugated Psilocin to Cynaptec while retaining a 64% ownership stake in Cynaptec following the investment. The agreement includes an option for an additional investment of up to US$20 million to support future development.

The proceeds from the initial financing will support preclinical research and early-stage (Phase 1 and 2a) clinical trials targeting chronic cluster headaches and substance use disorders. Chronic cluster headaches are classified as an orphan disease, with limited FDA-approved treatment options available for the chronic form of the condition.

Conjugated Psilocin is a novel, stable oral analog of psilocin, designed to improve bioavailability and therapeutic consistency without hallucinogenic effects. The compound is in development for neurological and psychiatric indications.

Lobe continues its commercial development of Altemia Medical Food, an emulsified oral formulation designed to support patients with long-chain fatty acid deficiencies associated with Sickle Cell Disease (SCD). Altemia is available under physician supervision and has been evaluated in clinical studies.

About Lobe Sciences Ltd.

Lobe Sciences is a biopharmaceutical company focused on novel treatments for orphan and rare diseases through lipid-based drug delivery. Lobe owns Altemia Medical Food and a 64% equity interest in Cynaptec Pharmaceuticals, Inc. It also owns Alera Pharma, Inc., a wholly owned subsidiary reserved for future initiatives.

About Cynaptec Pharmaceuticals, Inc.

Cynaptec is a U.S.-based biopharmaceutical company focused on developing innovative therapies for neurological and psychiatric disorders. Its lead compound, Conjugated Psilocin, is in development for chronic

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cluster headaches and substance use disorders.

Contact:
Dr. Fred D. Sancilio
Chief Executive Officer
Lobe Sciences Ltd.
info@lobesciences.com
+1 (949) 505-5623

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding future development plans, clinical trials, funding, investment, ownership interests, and product potential. These statements are based on assumptions believed to be reasonable as of the date hereof and are subject to known and unknown risks and uncertainties. Actual results may differ materially. The Company does not undertake to update forward-looking statements except as required by applicable laws.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.