The rights for a promising compound to treat addiction have been acquired by the biotech company.
Psyence (NASDAQ: PBM), a biomedical company, invested another $500,000 into PsyLabs to deepen its relationship with this producer of psychedelics ingredients. It also secured exclusive access for pharmaceutical grade ibogaine.
This cash injection builds upon Psyence’s initial partnership, which began in September 2024 when the company acquired an equity stake of 11.13% in PsyLabs. It also secured exclusive rights for nature-derived Psilocybin in clinical trials.
Psyence will have first access to ibogaine of pharmaceutical quality, an active substance derived from Tabernanthe Tabernanthe that is being considered for use in addiction treatment.
Neil Maresky, the CEO of PsyLabs said that they were “delighted” at this new opportunity. Ibogaine is a promising new treatment for some of mental health’s most difficult conditions.
Psyence, which aims to develop a multi-asset “vertically integrated psychedelics platform” (which it refers to as such), is focused on using nature-derived substances rather than synthesized alternatives. The company intends to test ibogaine for alcohol and substance abuse disorders.
Tony Budden said that the collaboration will create a “powerful platform” to investigate the potential of ibogaine, psilocybin, and other drugs in treating addictions and mental disorders.
PsyLabs is a federally licensed facility that operates out of an ISO 22000 certified building. It has shipped products containing psilocybin to Canada as well as the U.K.
This deal is subject to regulatory and final terms.
Psyence, while touting the potential of ibogaine to “interrupt addiction”, included disclaimers to say that regulators have not evaluated claims regarding psychedelic substances and “vigorous research and clinical tests are required.” It acknowledges the company has not conducted any clinical trials yet for its treatments.