Helus Pharma CEO Steps Down, Eric So Named Interim Chief Executive

Helus Pharma announced that Michael Cola has stepped down as Chief Executive Officer effective immediately at the request of the Board, with Co-founder and Executive Chairman Eric So appointed as Interim CEO while a search for a permanent successor is underway. The company said the leadership transition is intended to ensure continuity as it advances its clinical pipeline, including the anticipated fourth-quarter topline data readout from the APPROACH trial of HLP003, while maintaining focus on long-term value creation for patients and shareholders.

The announcement comes as Helus Pharma, the commercial operating name of Cybin Inc., continues developing its proprietary novel serotonergic agonists designed to activate serotonin pathways believed to promote neuroplasticity. The company's NSAs are intended to address the large unmet need for people who suffer from depression, anxiety, and other mental health conditions. With class leading data, Helus Pharma aims to improve the treatment landscape through the introduction of NSAs that aim to provide durable improvements in mental health.

Helus Pharma is currently developing HLP003, a proprietary NSA, in Phase 3 clinical development for the adjunctive treatment of major depressive disorder that has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. The company is also developing HLP004, another proprietary NSA in Phase 2 for generalized anxiety disorder. Additionally, Helus Pharma has an extensive research portfolio of investigational NSAs. The leadership change occurs at a critical juncture as the company approaches significant clinical milestones, particularly the topline data from the APPROACH trial expected in the fourth quarter.

The company operates in Canada, the United States, the United Kingdom and Ireland. For company updates and to learn more about Helus Pharma, visit www.helus.com. The latest news and updates relating to HELP are available in the company's newsroom at https://ibn.fm/HELP. This leadership transition represents a significant development for the clinical-stage pharmaceutical company as it navigates key clinical readouts and continues its mission to develop innovative treatments for mental health conditions through its proprietary NSA platform.