Lobe Sciences Ltd. announced an update for its clinical development plans for its proprietary Psilocin based compound L-130. L-130 is regulated as a Schedule 1 substance in the United States and most countries around the world. The Company has received regulatory clearance to import L-130.

Initial Phase 1 clinical trials will utilize Clearway Global's network of contract research organizations and believe that first subject will enter the first trial in December and topline data will be available for review early in the first quarter of 2023. Data will include safety and pharmacokinetic characteristics of L-130 and psychedelic properties, if any. A second Phase 1 trial is scheduled for the first quarter of 2023 and will accurately assess the therapeutic window for the subsequent Phase 2a trial planned to follow.

As previously announced, the Company has partnered with iNGENu CRO, a contract research organization to finalize and conduct the Phase 2a protocol in Australia. Company expect to dose first patient in Phase 2 trial in second quarter/third quarter 2023. Company will provide updates as finalize plans for this important program.