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PsyLabs grants exclusive U.S. license to develop ibogaine candidates, with up to $1.3M in milestones
PBMPsyence Biomedical Ltd.
On September 25, 2026, Psyence Biomedical Ltd.'s wholly-owned Texas subsidiary, TIRC, entered into a binding term sheet with related-party shareholder PsyLabs for an exclusive U.S. license to develop and commercialize pharmaceutical-grade ibogaine hydrochloride drug candidates. Under the agreement, TIRC will pay up to approximately US$1.3 million in development and regulatory milestones for the first candidate, plus an annual exclusivity fee commencing one year after FDA approval and a low single-digit percentage royalty on net sales. The term sheet requires TIRC to source all U.S. ibogaine exclusively from PsyLabs and is contingent on signing a definitive agreement by November 30, 2026. This strategic partnership secures supply chain control and intellectual property rights for Psyence Biomedical Ltd., a biopharmaceutical company specializing in nature-derived neuroplastogen therapeutics like psilocybin and ibogaine.