Cubed Biotech announces successful fundraising & operational strategy

Company provides outlook on near-term business goals

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TORONTO, July 7, 2021 /CNW/ - Cubed Biotech Inc. ("Cubed" or the "Company"), a future psychedelic biotech manufacturing company, is pleased to announce the successful oversubscription of its fundraising rounds and Cubed's planned research & development strategic pathway to becoming a natural entheogen psychedelic medicine manufacturer with its own unique intellectual property ("IP") portfolio.

Cubed intends to develop & produce psychedelic medicine to disrupt the current treatments of mental illness & addiction. The Company plans to develop a pipeline to manufacture innovative treatments based on the following natural entheogens: Mushrooms, Cacti, and Ayahuasca. Cubed's executive team brings extensive regulatory operations & financing experience to Cubed's mission to develop avant-garde psychedelic medicine inspired by historical ethnobotany.

Cubed's Operational Plan

"We are hyper-focused on becoming a leading psychedelic medicine manufacturer and a trusted partner for pharmaceutical companies worldwide", states Founder & CEO, Adam Coape-Arnold.

To fulfill this vision, Cubed has 4 core objectives for the near-term:

1. cGMP Facility: 
   1. Build, license & operate a purpose-built cGMP facility with a Health Canada Dealers License that is compliant to cultivate, extract & synthesize psilocybin and other psychedelics. 
      
   2. Subsequently receive Drug Establishment License to manufacture pharmaceutical grade psychedelic medicines.
      
2. Drug Development: Work with a Contract Research Organization (CRO) in compliance with applicable laws to develop two stacked active pharmaceutical ingredient ("API") drugs:
   1. Psilocybin / Mescaline Compound 
      
   2. Ayahuasca Compound (DMT with MAO inhibitors)
      
3. Stock Exchange Listing: Pursue a listing of Cubed's shares on a stock exchange through an initial public offering, direct listing or reverse takeover. 
   
4. Research Collaborations: Enter into collaboration and/or research and development agreements with third-parties in order to research novel drug candidates and advance the Company's IP portfolio in accordance with applicable laws.

Cubed has raised over $3,000,000 in oversubscribed private placements since its launch in early February.

"Cubed has had tremendous capital markets success for an early staged company formed only 4 months ago.  We've had the participation of numerous hedge funds, alternative medicine investor groups, family offices and a multitude of portfolio managers who are equally motivated to drive our business forward.  We have a focused pathway to "Psychedelics 2.0": to cultivate, extract & synthesize psilocybin, which is the future of medicine manufacturing," states Anthony Rossi, Co-Founder and President of Cubed.

ABOUT CUBED BIOTECH INC.
Cubed Biotech is a Canadian company working to become a Health Canada licensed Contract Development & Manufacturing Organization.  Subject to required regulatory approvals and exemptions, the Company intends to cultivate, extract and synthesize natural entheogens (Psilocybin from Mushrooms, Mescaline from Cacti, along with DMT & MAO-inhibitors from Ayahuasca), manufacture pharmaceutical mental-health & addiction medicines and eventually develop its own proprietary novel stacked API compound through clinical trials in order to achieve to pharmaceutical-grade distribution and commercialization. 

Cautionary Statement Regarding Forward-Looking Information

This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding the Company's planned research & development; the Company's development of its IP portfolio; the Company's future intentions and planned development pipeline; and the Company's core objectives for the near-term, including the pursuit of a listing of the Company's shares on a stock exchange.

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; limited operating history; changes in industry growth and trends; changes in general economic, business and political conditions, including changes in the financial markets; availability of additional capital; lack of product revenue; the global regulatory landscape and enforcement related to psychedelics, including political risks and risks relating to regulatory change; compliance with extensive government regulation, including the Company's interpretation of such regulation; difficulty associated with research and development; risks associated with clinical trials or studies; heightened regulatory scrutiny; early stage product development; clinical trial risks; regulatory approval processes; public opinion and perception of the industry; and the novelty of the psychedelic inspired medicines industry. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

SOURCE Cubed Biotech Inc.