Psyence BioMed Announces Strategic Ibogaine Investment

Transactions include an investment of up to US$5 million in PsyLabs and an approximately US$9 million value-matched share exchange

NEW YORK, Sept. 23, 2026 (GLOBE NEWSWIRE) — Psyence Biomedical Ltd. (Nasdaq: PBM) (“Psyence BioMed” or the “Company”), a biopharmaceutical company developing nature-derived neuroplastogen therapeutics, today announced that it has agreed to make a cash investment of up to US$5 million in Psyence Labs Ltd. (“PsyLabs”), together with a value-matched share exchange between the two companies. The transactions are intended to support the scientific, manufacturing and development capabilities required for Psyence BioMed’s planned U.S. ibogaine program.

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TIRC, registered and headquartered in Texas, has been established to provide a dedicated corporate structure through which the Company can coordinate its planned U.S. regulatory, clinical and development activities involving pharmaceutical-grade ibogaine.

The Company is currently evaluating the feasibility and design of a potential ibogaine clinical trial in Texas. Any clinical program would be subject to protocol development, regulatory review and authorization, institutional approvals, funding, site selection and other customary requirements.

Texas has emerged as an important state for publicly supported ibogaine research. Psyence BioMed believes that establishing a dedicated presence in the state positions the Company to participate in this developing research environment while building the regulatory and clinical infrastructure required for a potential U.S. development program.

To support its planned development activities, Psyence BioMed has agreed to invest up to US$5 million in PsyLabs. The investment is intended to fund scientific work and the continued development of pharmaceutical-grade ibogaine manufacturing capabilities relevant to Psyence BioMed’s U.S. program. Psyence BioMed has irrevocably committed to subscribe for US$2.4 million (936 PsyLabs ordinary shares at US$2,564 per share, based on a pre-money equity valuation of PsyLabs of US$54 million) under its pro rata pre-emption entitlement in PsyLabs’ current financing round. The balance of up to US$2.6 million is a backstop commitment to subscribe for shares in that financing round not taken up by other PsyLabs shareholders, in up to two tranches of up to US$1.3 million each, payable upon certain milestones being achieved and other customary conditions. If the milestone tranches have not been called and completed by December 31, 2026, Psyence BioMed’s obligation to fund them will lapse.