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Psyence BioMed Completes PsyLabs Investment as Ibogaine Milestones Are Met

PBM
  • Psyence Biomedical Ltd. completed an additional investment of US$2,599,896 in its subsidiary PsyLabs after achieving two required backstop milestones.
  • The first milestone was the completion of an ibogaine regulatory readiness documentation package to support future regulatory interactions.
  • The second milestone was the execution of a U.S. cGMP manufacturing agreement with Benuvia Operations, LLC, a DEA-registered facility in Texas.
  • Psyence Biomed II Corp. subscribed for 1,014 ordinary shares of PsyLabs at US$2,564 per share, reflecting a US$54 million pre-money valuation.
  • Following the investment, the Company's ownership stake in PsyLabs increased from approximately 41.13% to 43.37%.
  • Texas Ibogaine Research Corporation (TIRC), a wholly-owned subsidiary, will handle U.S. manufacturing, nonclinical, and regulatory development activities.
  • PsyLabs is positioned as the exclusive ibogaine supplier for TIRC in the U.S., subject to a definitive agreement expected by November 30, 2026.
  • The investment was funded using existing cash resources and was approved by independent directors as a related-party transaction.
  • Both backstop tranches were called ahead of the December 31, 2026 deadline to advance the U.S. pharmaceutical-grade ibogaine development program.