AcquisitionsApr 29, 2026, 09:13 AM
XTLB to Acquire PsygaBio; 40% Equity + 30% Milestone-Based ADSs
AI Summary
XTL Biopharmaceuticals Ltd. (XTLB) has entered into a definitive share purchase agreement to acquire PsygaBio Ltd., an Israeli biotechnology company focused on psychedelic and functional mushrooms. The acquisition involves XTLB issuing ADSs representing 40% of its share capital to Psyga's shareholders at closing, with an additional 30% contingent on achieving three specific clinical and commercial milestones. No cash consideration will be paid upfront by XTLB, and the company has secured a $1,500,000 private placement commitment to support the transaction, which is subject to XTLB shareholder approval.
Key Highlights
- XTLB to acquire 100% of PsygaBio Ltd., an advanced biotechnology company.
- Initial consideration: 40% of XTLB's share capital via ADSs to Psyga shareholders.
- Potential additional 30% of XTLB's share capital upon achieving three milestones.
- Milestone 1: Commencement of 3 clinical trials within 12 months post-closing.
- Milestone 2: Successful achievement of targets in 2 clinical trials within 36 months.
- Milestone 3: Binding commercialization/development agreement for Ibogaine products.
- No cash consideration will be paid by XTLB at the closing of the transaction.
- XTLB secured a commitment for a $1,500,000 private placement to support the transaction.
- Transaction is subject to XTLB shareholder approval and other customary conditions.
Price Impact
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