Psyence Group Sells Stake to Psyence Biomedical

Psyence Group (TSE:PSYG) has released an update.

Psyence Group has successfully closed the disposal of its 11.13% stake in PsyLabs to Psyence Biomedical, receiving 2,000,000 shares of Psyence Biomedical’s common stock as part of the transaction. This strategic move strengthens Psyence Biomedical’s position as a vertically integrated developer of psychedelic-based therapeutics. Additionally, a debt-for-equity swap agreement was executed, further aligning the financial interests of both companies.

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