Psyence Biomedical executes binding agreements with Optimi Health

Psyence Biomedical (PBM) announced that it has progressed beyond the previously-announced non-binding Letter of Intent, LOI, and executed binding agreements with Optimi Health Corp. Under the terms of the agreements, Optimi becomes the exclusive supplier of GMP-certified, nature-derived (non-synthetic) psilocybin extract for Psyence’s global drug development and commercialization initiatives for FDA-approved uses in the Palliative Care context. Optimi will provide comprehensive Chemistry, Manufacturing, and Control support for regulatory submissions related to Psyence’s clinical trials in Palliative Care and any future Investigational New Drug applications. Psyence will obtain exclusive rights to Optimi’s drug candidate for treatment use in the Palliative Care context.