The biotech firm expands its psychedelics pipeline with rights to a promising addiction treatment compound.
Psyence Biomedical (NASDAQ: PBM) invested an additional $500,000 in PsyLabs, deepening its relationship with the psychedelic ingredients producer while securing exclusive access to pharmaceutical-grade ibogaine.
The cash infusion builds on Psyence’s initial partnership from September 2024, when it acquired an 11.13% equity stake in PsyLabs and locked down exclusive rights to nature-derived psilocybin for clinical trials.
The new agreement gives Psyence first dibs on worldwide supply of pharmaceutical-grade ibogaine, a psychoactive substance from the Tabernanthe iboga plant being eyed for addiction treatment.
“We’re thrilled to strengthen our partnership with PsyLabs through both our financial investment and this opportunity to acquire exclusive ibogaine supply rights,” CEO Dr. Neil Maresky said in a statement. “Ibogaine holds significant potential as part of a new wave of therapeutics targeting some of the most challenging conditions in mental health.”
Psyence is betting big on nature-derived compounds rather than synthetic alternatives, aiming to build what it calls a “vertically integrated, multi-asset psychedelics biotech platform.” The company plans to evaluate ibogaine specifically for substance use disorders, including alcohol addiction.
Tony Budden, PsyLabs’ chief executive, said the expanded collaboration creates “a powerful platform to explore the full potential of ibogaine and psilocybin in addressing addiction and mental health disorders.”
PsyLabs operates from an ISO 22000-certified facility with federal licenses to handle various psychedelic compounds. The company has already shipped psilocybin products to Canada, the U.K., Portugal and Slovenia.
The deal remains subject to finalizing terms and regulatory approvals.
While touting ibogaine’s potential to “interrupt” addiction, Psyence included the usual disclaimers that regulatory authorities haven’t evaluated claims about psychedelic compounds and that “vigorous scientific research and clinical trials are needed.” The company acknowledges it hasn’t yet conducted clinical trials for its proposed treatments.
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