Psyence BioMed announces ibogaine investment and trial plans

Psyence BioMed's Strategic Investment in PsyLabs

Psyence Biomedical Ltd. has announced a significant investment strategy involving its affiliate, Psyence Biomed II Corp., and Psyence Labs Ltd. The company plans to invest up to $5 million in PsyLabs, with $2.4 million already committed, according to a press release issued on September 23, 2026. This investment aims to bolster scientific development and pharmaceutical-grade manufacturing capabilities crucial for Psyence BioMed's planned U.S. ibogaine program.

Plans for a Texas Ibogaine Clinical Trial

Psyence BioMed is actively pursuing plans to conduct a clinical trial of ibogaine in Texas, targeting opioid use disorder. The establishment of the Texas Ibogaine Research Corporation (TIRC), a subsidiary dedicated to this endeavor, underscores the company's commitment to advancing ibogaine research in the U.S. The trial's feasibility and design are currently under evaluation, with regulatory, clinical, and operational components being coordinated through TIRC.

Share Exchange Agreement

In addition to the cash investment, Psyence BioMed and PsyLabs have agreed to a value-matched share exchange, each valued at approximately $9 million. This exchange is designed to enhance the alignment between the two companies' clinical and manufacturing capabilities. The share exchange agreement is subject to regulatory approvals and other customary conditions, with a termination clause if not completed by November 30, 2026.

Why it matters

The strategic moves by Psyence BioMed reflect a growing interest in the potential of ibogaine as a treatment for opioid use disorder. By establishing a dedicated presence in Texas, the company positions itself to leverage the state's supportive environment for ibogaine research. The investment and share exchange are expected to strengthen Psyence BioMed's ability to conduct rigorous clinical research and develop pharmaceutical-grade ibogaine products.

Psyence BioMed's actions highlight the evolving landscape of ibogaine research and its potential role in addressing opioid addiction, a significant public health challenge.