Psyence Biomedical to Swap Shares With PsyLabs to Fund US Ibogaine Program; Stock Rises

Psyence Biomedical Ltd. (PBM) announced on Sept. 23, 2026, a share exchange agreement with Psyence Labs Ltd., paired with a cash investment, to advance its U.S. ibogaine program. The company's shares rose following the disclosure. The transaction is structured as a share swap plus new capital, though Psyence did not disclose the deal's value, the number of shares involved, or the size of the cash injection in its announcement. The financing is earmarked for Psyence's ibogaine-based therapeutic development in the United States. The company did not provide a timeline for closing or regulatory milestones tied to the program.