261 Aufrufe 261 0 Kommentare 0 Kommentare

    Psyence Biomed Enters into Agreement to Acquire Stake in PsyLabs

    PsyLabs develops and produces certified pharmaceutical-grade natural psychedelics for applications in mental health and well-being

    NEW YORK, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq: PBM) ("Psyence Biomed" or the "Company") today announced that it has entered into a conditional share sale agreement with Psyence Group (CSE: PSYG) (as seller) for the acquisition of an 11.13% stake in privately-held PsyLabs, a company focused on the production of psychedelic active pharmaceutical ingredients (APIs) and extracts for use in research, clinical trials and drug development ("Proposed Acquisition"). Per the terms of the Proposed Acquisition, Psyence Biomed will issue to Psyence Group shares of its common stock valued at $1.1 million dollars, at a price of $0.55 per share, in exchange for Psyence Group’s 11.13% stake in PsyLabs.

    Psyence Biomed previously announced a worldwide, exclusive, royalty-bearing IP licensing agreement with PsyLabs to supply pharmaceutical-grade, EU GMP nature-derived (non-synthetic) psilocybin to be evaluated in future clinical trials as a potential treatment for Alcohol Use Disorder (AUD) and other Substance Use Disorders (SUDs) and for commercialization of the licensed product. Psyence Biomed plans to lead with a clinical trial in AUD, Psyence Biomed’s second development indication. The licensed product will require further development work by PsyLabs, which will be conducted during the remainder of 2024 and into 2025. PsyLabs is also commercially licensed for the production and export of additional pharmaceutical grade psychoactive compounds, including ibogaine and mescaline.

    "We are very pleased to strengthen our relationship with PsyLabs through this acquisition, which gives us access to state-of-the-art cultivation and production capabilities that support our goal of becoming a leading, vertically integrated developer of psychedelic-based therapeutics," said Dr. Neil Maresky, Chief Executive Officer of Psyence Biomed. “As we expand our pipeline into additional high-value mental health conditions beyond our current Adjustment Disorder program, including Alcohol Use Disorder and other Substance Use Disorders, we will look to PsyLabs for consistent supply of high-purity, nature-derived psilocybin that will best position us for long-term success.”

    Seite 1 von 4



    globenewswire
    0 Follower
    Autor folgen

    Verfasst von globenewswire
    Psyence Biomed Enters into Agreement to Acquire Stake in PsyLabs PsyLabs develops and produces certified pharmaceutical-grade natural psychedelics for applications in mental health and well-beingNEW YORK, Sept. 19, 2024 (GLOBE NEWSWIRE) - Psyence Biomedical Ltd. (Nasdaq: PBM) ("Psyence Biomed" or the "Company") …