Psyence Biomedical Ltd. announced a put option agreement with PsyLabs for further equity investment in pharmaceutical-grade psychedelic compounds. PsyLabs is known for its expertise in scalable, GMP-compliant production. The agreement aims to secure a reliable supply of high-quality psychedelics for future programs. Certain executives provide consulting services to PsyLabs and hold less than 13% of its shares. A Special Committee reviewed and ratified the agreement to ensure transparency and independence. PsyLabs is a federally licensed company specializing in psychedelic compounds, with a focus on natural compound purification and global distribution. Psyence Biomedical is a biopharmaceutical company developing nature-derived psychedelic treatments listed on Nasdaq.

Read more at GlobeNewswire: Psyence BioMed Approves Put Option Agreement with PsyLabs