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

Core Insights - Psyence Biomedical Ltd. has achieved a significant milestone by becoming the first Nasdaq-listed company to produce GMP-compliant, high-purity ibogaine hydrochloride derived from ethically sourced materials in Africa [2][3] - The production of ibogaine HCl enhances the stability, solubility, purity, and dosing precision of the compound, aligning it with pharmaceutical development requirements [2] - The company is well-positioned for growth entering 2026, with a cash balance of $12 million, no debt, and a Phase 2b psilocybin clinical trial in progress [3] Company Developments - The CEO of Psyence BioMed emphasized that the successful production of GMP-compliant ibogaine HCl supports the company's vertically integrated strategy and long-term objectives [3] - A change in the Board of Directors occurred with the resignation of Christopher Bull and the appointment of Graham Patrick, who brings extensive experience in governance and compliance [4] Company Overview - Psyence Biomedical Ltd. is a multi-asset, vertically integrated biopharmaceutical company focused on developing nature-derived psilocybin and ibogaine-based psychedelic therapeutics [5] - The company aims to address unmet mental health needs through evidence-based approaches and is committed to developing FDA-approved treatments for various mental health disorders [5]