AcquisitionsApr 29, 2026, 09:00 AM
XTLB to Acquire Psyga Bio, Entering Psychedelic Therapeutics Market
AI Summary
XTL Biopharmaceuticals Ltd. announced a definitive agreement to acquire 100% of Psyga Bio Ltd., an advanced biotechnology company specializing in psychedelic and functional mushrooms. The acquisition, valued at 40% of XTL's post-issuance share capital with potential for an additional 10% based on milestones, positions XTL in the rapidly expanding psychedelic therapeutics market. Psyga brings a GMP-ready manufacturing facility, a library of over 180 mushroom strains, and 7 approved Phase 2a clinical trials. This move follows recent US regulatory momentum accelerating psychedelic therapy research and approval. XTL also secured a $1.5 million private placement to support the transaction.
Key Highlights
- XTL to acquire 100% of Psyga Bio Ltd., a psychedelic biotechnology company.
- Consideration: 40% of XTL's issued share capital to Psyga shareholders.
- Additional 10% of XTL shares upon achieving 3 performance milestones.
- Psyga has 7 approved Phase 2a human clinical trials expected to begin soon.
- Psyga operates a licensed, GMP-ready pharmaceutical manufacturing facility.
- Psyga developed a proprietary library of over 180 unique mushroom strains.
- XTL secured a US$1,500,000 private placement to fund the transaction.
- Transaction follows US regulatory momentum for psychedelic therapies.