Psyence BioMed Achieves Milestone in Natural Ibogaine HCl Production and Strengthens Balance Sheet With No Debt and $12m Cash

NEW YORK, Jan. 05, 2026 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq: PBM) (“Psyence BioMed” or the “Company”), a biopharmaceutical company advancing nature-derived psilocybin and ibogaine therapies for unmet mental health needs, today announced a significant scientific and manufacturing achievement.

Through its investment in PsyLabs, Psyence BioMed has become the first Nasdaq-listed company to produce GMP-compliant, high-purity ibogaine hydrochloride (Ibogaine HCl) derived from a naturally extracted, ethically sourced supply in Africa. Ibogaine HCl is the purified, stabilised, crystalline salt form of ibogaine used in clinical and therapeutic settings and represents the standard pharmaceutical format for this compound. Conversion to the hydrochloride salt improves stability, solubility, purity, and dosing precision, aligning the material with regulated medical, research, and pharmaceutical development requirements.

“The successful production of GMP-compliant Ibogaine HCl represents an important advancement for Psyence BioMed and our vertically integrated strategy,” said Jody Aufrichtig, Chief Executive Officer of Psyence BioMed. “This achievement strengthens our manufacturing and quality capabilities and supports our long-term objective of advancing nature-derived psychedelic compounds through responsible, regulated development pathways.”

With a cash balance of $12 million, no debt, a Phase 2b psilocybin clinical trial underway, and the successful production of GMP-grade ibogaine HCl, Psyence BioMed is well positioned entering 2026 to advance its strategic priorities and expand its leadership in vertically integrated, nature-derived psychedelic therapeutics.

The Company today announced a change to its Board of Directors. Christopher Bull resigned as a director of the Company effective December 1, 2025, and the resulting vacancy has been filled by the appointment of Graham Patrick. Mr. Patrick is a qualified attorney, conveyancer and notary with extensive experience in fiduciary oversight, good governance, management and cross-border transactions. The Company welcomes Mr. Patrick to the Board of Directors and believes that his experience and expertise shall be valuable to the Company given its international structure, compliance, and corporate governance requirements.

About Psyence BioMed 

Psyence Biomedical Ltd. (Nasdaq: PBM) is one of the few multi-asset, vertically integrated biopharmaceutical companies specializing in psychedelic-based therapeutics. It is the first life sciences biotechnology company focused on developing nature-derived (non-synthetic) psilocybin and ibogaine-based psychedelic medicine to be listed on Nasdaq. We are dedicated to addressing unmet mental health needs. We are committed to an evidence-based approach in developing safe, effective, and FDA-approved nature-derived psychedelic treatments for a broad range of mental health disorders. 

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Forward Looking Statements 

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations, and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. 

Forward-looking statements in this communication include statements regarding the advancement of the Company’s drug development programme and strategic priorities and the Company’s position going into the new year. These statements are based on current assumptions and expectations, including that the investment in PsyLabs will yield the anticipated benefits of vertical integration, and that the Company will continue to meet Nasdaq’s ongoing listing standards. These assumptions may prove incorrect. There can be no assurance that the Company will continue to maintain compliance with Nasdaq’s continued listing requirements. There are numerous risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. 

These risks and uncertainties include, among others: (i) delays or challenges in completing the share consolidation; (ii) the Company’s ability to maintain compliance with Nasdaq’s continued listing standards; (iii) potential volatility in the Company’s share price following the consolidation; (iv) changes in the regulatory, competitive, and economic landscape; (v) risks associated with the Company’s development plans and clinical trials; and (vi) risks related to the Company’s corporate authorizations for the share consolidation, including the possibility of claims or proceedings challenging the validity, interpretation or sufficiency of the shareholder resolutions authorizing the share consolidation. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s final prospectus (File No. 333-298285) filed with the Securities and Exchange Commission (the “SEC”) on November 3, 2025 and other documents filed by Psyence BioMed from time to time with the SEC. 

These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Actual results and future events could differ materially from those anticipated in such statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required by law, Psyence BioMed does not intend to update these forward-looking statements. 

The Company does not make any medical, treatment or health benefit claims about its proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by authorized clinical research. There is no assurance that the use of psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not conducted clinical trials for the use of the proposed products. Any references to quality, consistency, efficacy, and safety of potential products do not imply that the Company has verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company’s performance and operations.