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We are progressing this worthwhile clinical research in multiple Phase 2B trials and setting the company up for it's future.

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NEWS RELEASE

MINDBIO EXPLORES DUAL LISTING ON A SENIOR EXCHANGE WITH MULTIPLE PHASE 2B CLINICAL TRIALS UNDERWAY SUPPORTED BY POSITIVE TRIAL DATA AND PLANNING FOR PHASE 3

Vancouver, British Columbia – 1 May, 2024 – MindBio Therapeutics Corp. (CSE: MBIO; Frankfurt: WF6), (the “Company” or “MindBio”), is pleased to announce that it has been presenting MindBio to various parties, institutional investment firms and brokerage firms for a potential dual listing on a senior exchange in the United States or Australia.

The Company has successfully completed Phase 1 and Phase 2a Clinical Trials with positive readouts and new discoveries. In February 2024, MindBio completed its Phase 2a trial of MB22001 in patients with Major Depressive Disorder. In this open label trial, patients experienced a 60% drop in depressive symptoms and 53% of patients entering the trial with MDD, at week 8 were in remission from their depression with a mean 14.1 point drop in MADRS score (Montgomery-Asberg Depression Rating Scale). Prior trial results using MB22001 recorded statistically significant improvements in total sleep time and quality of sleep and statistically significant increases in subjective feelings of “Happiness”, “Social Connectivity”, “Energy”, “Creativity” and “Wellness” with reduced “Anger” and “Irritability”. MB22001 is a promising and potential market disruptive medicine for treating depressive illness.

The Company is now running two significant Phase 2B clinical trials with dosing underway and a third Phase 2B trial that has now also been approved in women’s health. In a series of world firsts, each of these trials is approved for the take-home use of MB22001, a proprietary and self-titratable form of Lysergic Acid Diethylamide (LSD) designed for safe take home microdosing.

MindBio will publish further readouts of its Phase 1 and 2A results in 2024 and expects the results of its Phase 2B trials to be announced in 2025. Management is now preparing and is in discussions with Clinical Research Organizations (CROs) for Phase 3 Clinical Trials with a 2025 start.

There are only a handful of public companies in the world that have progressed to Phase 2 and Phase 3 clinical trials in psychedelic medicines. MindBio is the most advanced clinical trial stage biopharma company listed on the Canadian Securities Exchange and the only company at this level that is not listed on a senior exchange. Given the success of its clinical trials and current program of works underway with multiple Phase 2B randomized controlled trials, management is actively having meetings with investment groups in Canada, United States and Australia for a potential dual listing on a senior exchange.

The Company will provide further updates to the market.

Stay Well!

JUSTIN HANKA

Chief Executive Officer & Co-Founder

MindBio Therapeutics Corp (Frankfurt: WF6), (CNSX: MBIO)

Follow CEO Justin Hanka on LinkedIn:

https://www.linkedin.com/in/justinhanka/

Follow MindBio on LinkedIn: https://www.linkedin.com/company/mindbio-therapeutics/?viewAsMember=true