Psyence BioMed Secures Exclusive U.S. Ibogaine Licence via Texas Unit
Psyence BioMed has signed a binding term sheet giving its Texas subsidiary exclusive U.S. rights to PsyLabs' pharmaceutical-grade ibogaine.
Psyence BioMed has entered a binding term sheet with PsyLabs that would grant the company's Texas-based subsidiary exclusive rights to develop, supply, and distribute pharmaceutical-grade ibogaine across the United States, the company announced Thursday.
The agreement designates Texas Ibogaine Research Corporation, Psyence BioMed's U.S. arm, as the sole American licensee for PsyLabs' ibogaine product. The arrangement is subject to execution of a definitive agreement between the two parties.
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Ibogaine, a psychoactive compound derived from the West African iboga plant, has attracted growing scientific and regulatory attention as a potential treatment for opioid use disorder and other addiction-related conditions. Pharmaceutical-grade formulations are considered essential for any future clinical or commercial pathway in the United States.
The exclusive licensing structure, if finalized, would position Psyence BioMed as a potentially significant gatekeeper for ibogaine supply within U.S. research and development channels — a market that remains tightly constrained given ibogaine's current Schedule I classification under federal law. Texas has emerged as an early focal point for ibogaine research in part because of state-level legislative interest in the substance.
No financial terms of the binding term sheet were disclosed. Continue reading at GlobeNewswire - Industry News on Financial Services.
