Psyence Biomed Enters into Agreement to Acquire Stake in PsyLabs
Psyence Biomedical Ltd. (PBM)
Company Research
Source: GlobeNewswire
NEW YORK, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq: PBM) ("Psyence Biomed" or the "Company") today announced that it has entered into a conditional share sale agreement with Psyence Group (CSE: PSYG) (as seller) for the acquisition of an 11.13% stake in privately-held PsyLabs, a company focused on the production of psychedelic active pharmaceutical ingredients (APIs) and extracts for use in research, clinical trials and drug development ("Proposed Acquisition"). Per the terms of the Proposed Acquisition, Psyence Biomed will issue to Psyence Group shares of its common stock valued at $1.1 million dollars, at a price of $0.55 per share, in exchange for Psyence Group’s 11.13% stake in PsyLabs. Psyence Biomed previously announced a worldwide, exclusive, royalty-bearing IP licensing agreement with PsyLabs to supply pharmaceutical-grade, EU GMP nature-derived (non-synthetic) psilocybin to be evaluated in future clinical trials as a potential treatment for Alcoho
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News
- Psyence Group Enters into Agreement to Dispose of Stake in PsyLabs [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Psyence Group Enters into Agreement to Dispose of Stake in PsyLabs [Yahoo! Finance]Yahoo! Finance
- Psyence Group Enters into Agreement to Dispose of Stake in PsyLabsGlobeNewswire
- Psyence Group's NASDAQ-Listed Associate, Psyence Biomed Issues Shareholder Update Recapping Recent Progress and Previewing Key Upcoming Data Milestones [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Psyence Group's NASDAQ-Listed Associate, Psyence Biomed Issues Shareholder Update Recapping Recent Progress and Previewing Key Upcoming Data MilestonesGlobeNewswire
PBM
Sec Filings
- 9/20/24 - Form 6-K
- 9/13/24 - Form 6-K
- 9/5/24 - Form 6-K
- PBM's page on the SEC website