Psyence BioMed Completes PsyLabs Investment as Ibogaine Milestones Are Met
Key Highlights
- ➤Psyence BioMed invested US$2,599,896 in PsyLabs after both milestones were achieved
- ➤Psyence BioMed’s PsyLabs ownership increased to approximately 43.37%
- ➤PsyLabs completed ibogaine regulatory readiness documentation supporting future regulatory interactions
- ➤TIRC entered a U.S. cGMP manufacturing agreement with Benuvia for pharmaceutical-grade ibogaine API
- ➤PsyLabs called both backstop tranches ahead of the December 31, 2026 deadline
Expert Statements
Jody Aufrichtig, Chief Executive Officer of Psyence BioMed and TIRC
“Achieving both milestones well ahead of the December 31 deadline is a clear signal that the ibogaine program is moving from planning into execution”
Jody Aufrichtig, Chief Executive Officer of Psyence BioMed and TIRC
“PsyLabs now has the regulatory documentation and additional capital to support the supply of pharmaceutical-grade ibogaine, and TIRC has a U.S. cGMP manufacturing partner in place to support the development work we are planning.”
Jody Aufrichtig, Chief Executive Officer of Psyence BioMed and TIRC
“Each company is doing what it is best equipped to do, which we believe is the right structure for building long-term value for our shareholders.”
NEW YORK, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq: PBM) (“Psyence BioMed” or the “Company”) today announced that both milestones attached to its backstop subscription commitment in Psyence Labs Ltd. (“PsyLabs”) have been achieved and that the Company, through its wholly-owned subsidiary Psyence Biomed II Corp., has completed its additional investment in PsyLabs of US$2,599,896. The milestones include the completion of an ibogaine regulatory readiness documentation package and the execution of a U.S. current Good Manufacturing Practice (“cGMP”) manufacturing agreement with Benuvia Operations, LLC (“Benuvia”), representing important progress in advancing the Company’s planned U.S. pharmaceutical-grade ibogaine development program.
As previously announced on September 23, 2026, Psyence BioMed agreed to invest up to US$5 million in PsyLabs, comprising an irrevocable commitment of US$2.4 million (936 PsyLabs ordinary shares at US$2,564 per share) under its pro rata pre-emption entitlement in PsyLabs’ current financing round and a backstop commitment of up to US$2.6 million to subscribe for shares in that financing round not taken up by other PsyLabs shareholders, payable in up to two tranches of up to US$1.3 million each upon the achievement of specified milestones. The backstop tranches were required to be called and completed by December 31, 2026.
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