Psyence Biomed to Acquire Clairvoyant Therapeutics, Expanding Psilocybin-Based Therapeutic Pipeline

Acquisition Agreement:
Psyence Biomed has entered into a conditional binding term sheet to acquire 100% of Clairvoyant Therapeutics, a clinical-stage developer of psilocybin-based therapeutics.

Consideration:
The acquisition involves issuing $500,000 of Psyence Biomed’s common shares to Clairvoyant’s disposing shareholders upon closing, with potential additional share-based payments of $250,000 each contingent on achieving specific milestones by December 2026.

Clinical Trial:
Clairvoyant is conducting a Phase IIb clinical trial (CLA-PSY-201) evaluating a synthetic psilocybin candidate for treating Alcohol Use Disorder (AUD), with topline data expected in early 2025.

Strategic Expansion:
The acquisition expands Psyence Biomed’s pipeline into AUD, a high-value indication with a significant treatment gap, and complements its existing nature-derived psilocybin development program for Adjustment Disorder in palliative care.

Scientific Rationale:
Prior studies have shown promising results for psilocybin-assisted therapy in reducing alcohol consumption, including an 83% average reduction in a study published in JAMA Psychiatry in 2022 and a recent study in August 2024 demonstrating safety and efficacy in AUD patients.