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Investing.com -- Psyence Biomedical Ltd. (NASDAQ:PBM) stock surged 70% after the company announced that its strategic partner, PsyLabs, successfully produced a GMP-aligned Ibogaine Total (EPA:TTEF) Alkaloid extract.
The high-purity extract met all microbial safety standards for food-grade consumption, as verified by an accredited third-party laboratory. This breakthrough represents a significant milestone in the production of purified psychedelic compounds, potentially advancing the company’s pharmaceutical development efforts.
Psyence BioMed acquired an equity stake in PsyLabs in 2024 and continued that investment in 2025. The collaboration has supported PsyLabs’ development of scalable, compliant psychedelic active pharmaceutical ingredients (APIs).
"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.
PsyLabs is currently expanding its chemistry production area to meet growing demand for Ibogaine HCL, Psilocybin Isolate, and other 90% purity SKUs derived from both Iboga and Mushrooms. The company plans to make its Ibogaine available to licensed research institutions and developers worldwide.
Tony Budden, CEO of PsyLabs, noted that the team is "committed to refining our processes to achieve even higher purity levels, supporting the growing demand for high-quality psychedelic APIs."
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