Psyence Group closes strategic restructuring on non-clinical business

Further to the announcement by Psyence Group of its plans for the strategic restructuring of its non-clinical business through a conditional M&A transaction, Psyence announced that the conditions to implement the Transaction have been met and that the Transaction has closed. Psyence has built a network of potential clients and customers, and successfully and lawfully distributed psilocybin internationally, both itself and via its strategic partners. Psyence plans to leverage its experience and expertise in the sector to build a pipeline of business, a route-to-market, as well as a lawful and fully licensed distribution network and logistics plan for the distribution of psilocybin globally. Psyence will play a vital role in ensuring the commercial success of the Transaction target non-clinical assets and business and will continue exploring new markets for medical grade psilocybin and active pharmaceutical ingredients.