Psyence BioMed completes $2.6M PsyLabs investment after milestones met

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Go back to Psyence BioMed completes $2.6M PsyLabs investment after milestones met

Psyence BioMed Completes PsyLabs Investment as Ibogaine Milestones Are Met

October 21, 2026 7:00 AM EDT

Ibogaine regulatory readiness pack completed and U.S. cGMP manufacturing agreement concluded with DEA-registered Benuvia in Texas; investment supports PsyLabs intended supply of pharmaceutical-grade ibogaine for the planned U.S. development program

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... More