Psyence Group’s Post

Shareholder update from Psyence Biomedical Ltd, one of the world's few vertically integrated biopharmas with a focus on psychedelic-based pharmaceutical therapeutics, and the first life science biotechnology company developing nature-derived (non-synthetic) psilocybin-based psychedelic medicine to be listed on Nasdaq •Phase IIb clinical trial progressing as planned; patient screening has commenced •Independent valuation of PsyLabs values Psyence Biomed’s stake at approximately $2 million, doubling in value •Strengthened balance sheet, with substantially reduced debt, heading into 2025 "We anticipate that Psyence Biomed will enter 2025 with a substantially debt-free balance sheet, offering greater financial flexibility and stability. This improved financial position allows the Company to focus its resources on advancing its clinical programs, including the ongoing Phase IIb trial in Adjustment Disorder and the planned Phase II trial in Alcohol Use Disorder (AUD), while positioning itself for long-term growth and operational efficiency," says Psyence Biomedical Ltd CEO Dr. Neil Maresky who adds, "In closing, I believe the progress that we have made this year – clinical, financial and operational – position us well to achieve multiple value-creating milestones in 2025 and beyond. "