Recent Updates — PBMWW

Psyence Biomedical Ltd. completed a $2,599,896 investment in its related-party subsidiary, PsyLabs Ltd., following the achievement of two key development milestones: the completion of an ibogaine regulatory readiness documentation package and the execution of a U.S. cGMP manufacturing agreement with Benuvia Operations LLC. The funding represents the second tranche of a backstop commitment under a previously announced up to $5 million investment plan, bringing Psyence Biomedical's total ownership stake in PsyLabs to approximately 43.37%. This capital injection supports PsyLabs' role as the exclusive supplier of pharmaceutical-grade ibogaine for the company's planned U.S. development program managed by its Texas subsidiary. Psyence Biomedical Ltd. is a biopharmaceutical company focused on developing nature-derived neuroplastogen treatments, including psilocybin and ibogaine, for mental health disorders.

Psyence Biomedical Ltd.'s Texas subsidiary, TIRC, entered a manufacturing services agreement with DEA-registered Benuvia Operations to produce pharmaceutical-grade ibogaine API in Round Rock, Texas. The partnership leverages Benuvia's 83,000-square-foot facility and existing quota holdings to support TIRC's planned U.S. development program for neuroplastogen-based therapies. This arrangement builds on a binding term sheet with PsyLabs for exclusive U.S. supply rights, with a definitive agreement expected by November 30, 2026. The company operates in the biotechnology sector, focusing on developing nature-derived treatments for mental health disorders.