Psyence BioMed Approves Put Option Agreement with PsyLabs to Secure Strategic Supply and Strengthen Commercialization Pathway

The Put Option Agreement positions Psyence BioMed for potential significant future equity participation in one of the world's most advanced psychedelic pharmaceutical grade manufacturers, thereby securing predictable and reliable supply of pharmaceutical grade psychedelics, as the pathway to commercialization unfolds

NEW YORK, Feb. 13, 2026 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq: PBM) (“Psyence BioMed” or the “Company”), a biopharmaceutical company advancing nature-derived psilocybin and ibogaine therapies for unmet mental health needs, today announced that its board of directors has ratified the entry into a put option agreement (the “Put Option Agreement”) with PsyLabs, a leading developer and manufacturer of pharmaceutical-grade psychedelic compounds.

The Put Option Agreement grants PsyLabs the right, but not the obligation, to require the Company to make a further equity investment in PsyLabs by way of a share-for-share exchange at arm’s length and at fair market value, subject to the terms and conditions set out therein. The Put Option Agreement forms part of a broader strategic and commercial relationship between the parties, including licensing arrangements pursuant to which the Company may access PsyLabs' investigational and commercial-scale manufacturing capabilities.

PsyLabs is believed to be among the world’s most advanced manufacturers of pharmaceutical-grade psychedelic compounds, with demonstrated expertise in scalable, GMP-compliant production. The Put Option Agreement provides the Company with a structured opportunity to acquire a significant equity stake in PsyLabs as its development and commercialization strategy evolves, while securing predictable, reliable, and high-quality supply of critical pharmaceutical grade psychedelics in support of future clinical and commercial programs.

The agreement reflects the strategic value delivered by PsyLabs in accelerating the development of an alternative investigational product approved by the Australian regulator for clinical trials, which significantly de-risked the Company's clinical development pathway and mitigated supply-chain, regulatory, and execution risks. Structuring the arrangement through a put option enables the Company to preserve near-term financial flexibility in that the Company has secured strategic manufacturing access and long-term alignment without needing to deploy further significant capital upfront; thereby allowing the Company to preserve cash for clinical and regulatory execution as the pathway to commercialization unfolds.