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Psyence Biomedical Announces Conditional Binding Term Sheet for Acquisition of Clairvoyant Therapeutics

Sep 06, 2024•almost 2 years ago

Contract Type

partnership

TorontoBiotechnologyHealth Care

Description

Psyence Biomedical Ltd. has announced the signing of a conditional binding term sheet with Clairvoyant Therapeutics Inc. for the proposed acquisition of 100% of Clairvoyant's shareholdings. As part of the agreement, Psyence Biomedical will issue US$500,000 of its common shares upon closing, with potential additional share-based payments of US$250,000 each based on the achievement of milestones

Company Information

Company

Psyence Group

Location

Toronto, Ontario, Canada

About

www.psyence.com Psyence is a life science biotechnology company listed on the Canadian Securities Exchange (CSE: PSYG), with a focus on natural psychedelics. Psyence works with nature-derived psilocybin products for the healing of psychological trauma and its mental health consequences in the context of palliative care. Our name “Psyence” combines the words psychedelic and science to affirm our commitment to producing psychedelic medicines developed through evidence-based research. Informed by nature and guided by science, we built and operate one of the world’s first federally licensed commercial psilocybin mushroom cultivation and production facilities in Southern Africa. Our team brings international experience in both business and science and includes experts in mycology, neurology, palliative care, and drug development. We work to develop advanced nature-derived psilocybin products for clinical research and development. Our key divisions, Psyence Production and Psyence Therapeutics anchor an international collaboration, with operations in Canada, the United Kingdom, Southern Africa and Australia, and a presence in the United States.

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