DealsSep 28, 2026, 07:08 AM
Psyence BioMed Secures Exclusive U.S. Ibogaine License for Subsidiary
AI Summary
Psyence Biomedical Ltd. announced that its wholly-owned Texas subsidiary, Texas Ibogaine Research Corporation (TIRC), has entered into a binding term sheet with Psyence Labs Ltd. (PsyLabs). Under this agreement, PsyLabs will grant TIRC an exclusive license, supply, and wholesale distribution arrangement for its pharmaceutical-grade ibogaine in the United States. TIRC will be responsible for U.S. development and commercialization, with PsyLabs acting as the exclusive supplier. The deal includes milestone payments totaling up to $1.3 million, an annual exclusivity fee, and royalties. A definitive agreement is expected by November 30, 2026. This transaction is classified as a related-party transaction.
Key Highlights
- Psyence Biomedical's subsidiary TIRC enters binding term sheet with Psyence Labs for exclusive U.S. license, supply, and distribution of pharmaceutical-grade ibogaine.
- PsyLabs grants TIRC exclusive rights to know-how, cultivation, extraction, processing, and regulatory information for ibogaine hydrochloride in the U.S.
- TIRC to pay PsyLabs up to $1.3 million in development/regulatory milestone payments for the first drug candidate.
- An annual exclusivity fee and low single-digit royalty on net sales are also part of the consideration.
- The term sheet is binding and intended to be superseded by a definitive agreement by November 30, 2026.
- The transaction is considered a related-party transaction as PsyLabs is a significant shareholder and has management affiliations.
Price Impact
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