Psyence Biomedical Ltd. (NASDAQ:PBM) saw its stock skyrocket by 70% after announcing a major scientific milestone achieved by its strategic partner, PsyLabs. The partner successfully produced a GMP-compliant Ibogaine Total Alkaloid extract, marking a breakthrough in the scalable manufacturing of purified psychedelic compounds.
The extract passed all required microbial safety standards for food-grade use, confirmed by a certified third-party laboratory. This advancement is expected to significantly aid Psyence BioMed’s efforts to develop pharmaceutical-grade psychedelic therapies.
Psyence BioMed acquired an equity interest in PsyLabs in 2024, expanding that investment into 2025 as part of a broader collaboration focused on the development of compliant psychedelic APIs (active pharmaceutical ingredients).
“This is a groundbreaking moment for our entire team on the ground who have put countless hours and effort into ensuring our naturally derived, sustainable input materials are extracted with the same caution, mindfulness, and care, all covering the GMP manufacturing processes,” said Cody Robyn Futeran, Head of Extraction Innovations and Business Development at PsyLabs.
To meet rising interest, PsyLabs is now expanding its chemistry production facilities, aiming to scale up manufacturing of Ibogaine HCL, Psilocybin Isolate, and other high-purity psychedelic ingredients derived from Iboga and mushrooms, with purity levels exceeding 90%.
The company also plans to distribute its Ibogaine product to licensed researchers and drug developers globally.
Tony Budden, PsyLabs CEO, emphasized the company’s forward-looking commitment: “We are committed to refining our processes to achieve even higher purity levels, supporting the growing demand for high-quality psychedelic APIs.”
Psyence Biomedical stock price
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.