Psyence secures exclusive U.S. ibogaine license

Psyence Biomedical's Texas Subsidiary Secures U.S. Ibogaine Rights

Psyence Biomedical Ltd. has announced that its Texas subsidiary, Texas Ibogaine Research Corporation (TIRC), has secured exclusive U.S. rights to ibogaine hydrochloride intellectual property. This development follows a binding term sheet signed with Psyence Labs Ltd. on September 25, 2026, according to a Form 6-K filed with the SEC on September 28, 2026.

Details of the Agreement

The agreement grants TIRC exclusive access to Psyence Labs' pharmaceutical-grade ibogaine hydrochloride, including trade secrets, technical data, and regulatory information necessary for drug development in the United States. In exchange, TIRC will make development and regulatory milestone payments totaling up to approximately $1.3 million for the initial drug candidate. Additionally, TIRC will pay a low single-digit royalty on net sales and engage in a margin-sharing agreement for product resales.

Terms and Conditions

The binding term sheet stipulates that a definitive agreement must be signed by November 30, 2026, or the term sheet will expire. The exclusivity is contingent upon TIRC sourcing all U.S. ibogaine exclusively from Psyence Labs and meeting certain U.S. development and sales performance targets. The transaction is classified as a related-party deal, as Psyence Labs is a major shareholder in Psyence Biomedical.

Why It Matters

This agreement marks a significant step for Psyence Biomedical in the U.S. market, potentially accelerating the development of ibogaine-based therapies. Ibogaine is being studied for its potential in treating opioid use disorder, PTSD, and other conditions. The exclusive rights could position Psyence as a key player in the emerging field of psychedelic medicine.

The Form 6-K was signed by Warwick Corden-Lloyd, CFO of Psyence Biomedical, and is incorporated into the company’s Registration Statement on Form F-3.

Closing Context

The deal underscores the growing interest in psychedelic compounds for therapeutic use, with ibogaine at the forefront due to its unique properties and potential benefits.