Psyence Biomedical Completes Its Additional Investment In PsyLabs Of $2,599,896

Psyence Biomedical Ltd. (NASDAQ:PBM) ("Psyence BioMed" or the "Company") today announced that both milestones attached to its backstop subscription commitment in Psyence Labs Ltd. ("PsyLabs") have been achieved and that the Company, through its wholly-owned subsidiary Psyence Biomed II Corp., has completed its additional investment in PsyLabs of US$2,599,896. The milestones include the completion of an ibogaine regulatory readiness documentation package and the execution of a U.S. current Good Manufacturing Practice ("cGMP") manufacturing agreement with Benuvia Operations, LLC ("Benuvia"), representing important progress in advancing the Company’s planned U.S. pharmaceutical-grade ibogaine development program.

As previously announced on September 23, 2026, Psyence BioMed agreed to invest up to US$5 million in PsyLabs, comprising an irrevocable commitment of US$2.4 million (936 PsyLabs ordinary shares at US$2,564 per share) under its pro rata pre-emption entitlement in PsyLabs’ current financing round and a backstop commitment of up to US$2.6 million to subscribe for shares in that financing round not taken up by other PsyLabs shareholders, payable in up to two tranches of up to US$1.3 million each upon the achievement of specified milestones. The backstop tranches were required to be called and completed by December 31, 2026.