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Lobe Sciences Provides Update on L-130 Oral Psilocin Compound

L-130 passes 12 months ongoing stability

VANCOUVER, British Columbia, December 05, 2023--(BUSINESS WIRE)--Lobe Sciences Ltd. (OTCQB: LOBEF) (CSE: LOBE) ("Lobe" or the "Company"), a biopharmaceutical company focused on developing transformative medicines to treat rare diseases today announced the Company’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 CEO of Lobe Sciences.

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Dr. Yousry Sayed, Founder and CEO 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 January 8-11. 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.

NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

This does not constitute an offer to sell or a solicitation of offers to buy any securities.

Forward Looking Statements

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release (including, without limitation, statements regarding the future plans and objectives of the Company, research and development using psychedelic compounds, and the development of innovative devices and delivery mechanisms to improve mental health and wellness) are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; that the Company's drug research and development activities may be unsuccessful; that drugs and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company's corporate goals and objectives; and other risk factors detailed in the Company's continuous disclosure filings from time to time, as available under the Company's profile at www.sedar.com. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205299145/en/

Contacts

For further information:
Lobe Sciences Ltd.

Investors and Media
ir@lobesciences.com
Tel: (949) 505-5623