Recent Updates — PBM

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.

Psyence Biomedical Ltd. announced a strategic investment of up to US$5 million in PsyLabs, with US$2.4 million committed at a pre-money valuation of US$54 million, and a reciprocal share-for-share exchange valued at approximately US$9 million per side. The transaction increases PsyLabs' ownership in Psyence BioMed from 30.22% to 49.89%, while Psyence BioMed's stake in PsyLabs rises from 29.17% to 41.13%. Additionally, the company established Texas Ibogaine Research Corporation (TIRC) as a U.S. subsidiary to coordinate regulatory and clinical activities for a potential ibogaine trial targeting Opioid Use Disorder. This biopharmaceutical company develops nature-derived neuroplastogen therapeutics.