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M&A
Psyence Biomed to acquire 11.1% stake in PsyLabs for USD 1.1 million
Psychedelic Medicine
Sep 19, 2024
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Psychedelic Medicine

Psychedelic Medicine

Sep 19, 2024

Psyence Biomed to acquire 11.1% stake in PsyLabs for USD 1.1 million

M&A

  • Psyence Biomed, a division of Psyence that specializes in natural psilocybin products, has entered a conditional share sale agreement to acquire an 11.1% stake in PsyLabs, a psychedelic active pharmaceutical ingredient development company, for USD 1.1 million in stock.

  • The acquisition will further strengthen Psyence Biomed's existing partnership with PsyLabs by granting exclusive access to PsyLabs’ nature-derived psilocybin supply and continuing the collaborative development of psychedelic-based therapeutics.

  • PsyLabs specializes in producing pharmaceutical-grade psychoactive compounds, including psilocybin, ibogaine, and mescaline. The company has developed a proprietary process for producing high-purity, naturally derived psilocybin and is commercially licensed for the production and export of these compounds.

  • Analyst QuickTake: Psyence Biomed continues to actively mark its presence in the psilocybin therapeutics space . Earlier this month, it acquired Clairvoyant Therapeutics for USD 2.8 million to expand its pipeline. In July 2024, it secured a USD 25 million stock purchase agreement with White Lion Capital to fund Phase IIb clinical trials.

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