Psyence BioMed says both milestones of its US$2.60 million backstop investment in PsyLabs have been met, including regulatory documentation and a US manufacturing agreement for pharmaceutical-grade ibogaine.

PsyLabs completed an ibogaine regulatory readiness package to support future regulatory interactions for pharmaceutical-grade ibogaine HCl. Its subsidiary, Texas Ibogaine Research Corporation, also executed a US cGMP manufacturing services agreement with Benuvia Operations, a DEA-registered facility in Round Rock, Texas, supporting planned production of ibogaine API for nonclinical and clinical development.