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Stock impact report

Psyence Biomedical Announces Closing of Previously Announced Acquisition of Psyence Group’s Stake in PsyLabs

Psyence Biomedical Ltd. - Ordinary Shares (PBM) 
Company Research Source: GlobeNewswire
PsyLabs develops and produces certified pharmaceutical-grade nature-derived psychedelics for applications in mental health and well-being Psyence Biomedical has issued common shares to Psyence Group pursuant to a debt-for-equity swap agreement NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq: PBM) (“Psyence Biomed” or the “Company”) today announced the successful closing of its previously announced acquisition of Psyence Group's 11.13% stake in privately held PsyLabs.    PsyLabs is focused on the cultivation and production of psychedelic active pharmaceutical ingredients (APIs) and extracts for use in research, clinical trials and drug development. As previously announced, Psyence Biomed and PsyLabs have an existing strategic partnership whereby PsyLabs has granted Psyence Biomed a worldwide, exclusive, royalty-bearing IP licensing agreement to supply pharmaceutical-grade, EU GMP nature-derived (non-synthetic) psilocybin to Show less Read more
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