Zylorion Announces Filing of Composition of Matter Patent for Novel Psychedelic Compound

CALGARY, Alberta – October 5, 2022 – Zylorion Health Inc., (“Zylorion” or the “Company”), a precision mental health care and psychedelic therapy focused innovator, today announced the filing of a composition of matter patent with the United States Patent and Trademark Office (“USPTO”) for the Company’s novel second-generation lead psychedelic compound.

The new patent application is consistent with the Company’s previously announced provisional patent filings and enhances evidence supporting development of ZYL-314, Zylorion’s novel second-generation psychedelic drug product candidate. ZYL-314 is a unique psilocybin-based compound derived from the tryptamine family of classic psychedelics that have demonstrated early clinical evidence to support the treatment of various neuropsychiatric conditions.

Psilocybin is a naturally occurring compound and the active pharmaceutical ingredient (“API”) in hallucinogenic mushrooms. In 2018, the U.S. Food and Drug Agency (“FDA”) granted Breakthrough Therapy designation to psilocybin for the treatment of major depressive disorder. Breakthrough Therapy designation is granted by the FDA for drugs that treat a serious or life-threatening condition and preliminary clinical evidence indicates that the drug may demonstrate substantial improvement on a clinically significant endpoint over available therapies.

“We are actively expanding our intellectual property portfolio around our second-generation psychedelic drug product candidate and are excited to file our first patent to support this. We plan to continue increasing our intellectual property portfolio around all parts of our development program, our novel psychedelics, proprietary therapy, and data platform,” said Dr. Silverstone, Chief Executive Officer of Zylorion.

Zylorion continues to execute pre-clinical activities and gather data to support claims and research programs to advance development of the Company’s portfolio of intellectual property assets and clinical studies.

About Zylorion

Zylorion is a biotech company engaged in the development and delivery of integrated precision mental health therapies to address psychological and neurological mental health conditions. Zylorion is focused on the research, development and commercialization of psychedelic-based compounds coupled with novel therapeutic treatment programs targeting a continuum of mental health conditions, such as MDD (major depressive disorder), TRD (treatment resistant depression), PTSD (post-traumatic stress disorder), general depression, anxiety disorders, and a number of addictive tendencies. Zylorion aims to leverage leading technologies to support the scalability and accessibility of its integrated therapy programs in its mission to enable those experiencing mental health challenges to thrive.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute forward-looking information (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

Investor Relations

e: InvestorRelations@zylorion.com

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