Psyence BioMed unit signs term sheet for exclusive US ibogaine license, supply deal with PsyLabs
PBM•Psyence Biomedical’s Texas unit, TIRC, signed a binding term sheet for an exclusive U.S. license and supply deal for PsyLabs’ pharmaceutical-grade ibogaine. The terms include up to about $1.3 million in development and regulatory milestones for the first drug candidate, an annual exclusivity fee after first FDA approval, and low single-digit royalties on net sales.
1. License and supply terms
TIRC signed a binding term sheet for an exclusive U.S. license to PsyLabs’ pharmaceutical-grade ibogaine, with PsyLabs as the exclusive U.S. supplier and TIRC as exclusive U.S. wholesaler and distributor. The parties are targeting a definitive agreement by Nov. 30, 2026; the term sheet lapses if no agreement is signed by then. The economics include up to about $1.3 million in development and regulatory milestones for the first drug candidate, an annual exclusivity fee starting after first FDA approval, and low single-digit royalties on net sales.
