Cingulate Receives $3M Grant From Private Foundation To Accelerate Development Of Anxiety Asset CTx-2103; Beginning 6-Months After The After The First Commercial Sale Of CTx-2103, Payable At $500K Per Quarter, With A Maximum Cumulative Royalty Of $3.5M

CTx-2103 has the Potential to be the First, Once-Daily Formulation of Buspirone, one of the Most Widely Prescribed Agents in the $5.5 Billion U.S. Anxiety Market, and the $11.6 Billion Anxiety Market Worldwide

Non-Dilutive Funding Expands Pipeline and Further Validates Cingulate's Proprietary Precision Timed Release™ Drug Delivery Technology

CTx-2103 has the Potential to Reduce Use of Benzodiazepine's and Associated Withdrawal and Dependency Issues

KANSAS CITY, Kan., April 09, 2025 (GLOBE NEWSWIRE) -- Cingulate Inc. (NASDAQ:CING), a biopharmaceutical company utilizing its proprietary Precision Timed Release™ (PTR™) drug delivery platform technology to build and advance a pipeline of next-generation pharmaceutical products, announced today that it has received a $3 million grant to accelerate the development of CTx-2103 (buspirone) for the treatment of anxiety. CTx-2103 has the potential to be the first, once-daily formulation of buspirone, one of the most widely prescribed agents in the $5.5 billion U.S. anxiety market ($11.6 billion global).

The grant will be made in three tranches of $1 million each, the first tranche to be paid on May 1st , and the two subsequent tranches payable based on specified product development milestones. The foundation will receive a future royalty contingent on the commercialization of CTx-2103, beginning six months after the after the first commercial sale of CTx-2103, payable at $500,000 per quarter, with a maximum cumulative royalty of $3.5 million.