AcquisitionsJun 30, 2026, 05:16 PM
XTL Biopharmaceuticals Completes Psyga Bio Acquisition
AI Summary
XTL Biopharmaceuticals announced the completion of its strategic acquisition of Psyga Bio Ltd., transforming XTL into a dedicated company in global psychedelic medicine. This move positions XTL with an advanced clinical pipeline, a licensed GMP manufacturing facility, and a unique intellectual property library. The acquisition was funded through a stock-based consideration and a $1,500,000 private placement, with additional milestone-based payments for Psyga shareholders. The company highlights a historic regulatory tailwind in the US, accelerating research and approvals for psychedelic drugs.
Key Highlights
- XTL Biopharmaceuticals completed the acquisition of Psyga Bio Ltd., making psychedelic operations its exclusive core business.
- XTL acquired 269,095 shares of Psyga Bio, representing approximately 83.40% of its fully diluted share capital.
- A $1,500,000 cash amount was wired to XTL's treasury as part of an approved private placement.
- The acquisition was completed through the issuance of ADSs representing approximately 33.36% of XTL's capital post-issuance.
- Psyga shareholders are entitled to receive up to an additional 25.02% of XTL's capital upon achieving three clinical and commercial milestones.
- Psyga Bio brings an advanced clinical pipeline, a licensed GMP manufacturing facility, and an IP library of over 250 mushroom strains.
- The company is submitting for three clinical trials in Israel, with four more planned in the coming year.
Price Impact
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