Psyence Biomedical signs conditional deal to acquire Clairvoyant Therapeutics, a Canadian firm developing psilocybin-based treatments, including a Phase IIb trial for Alcohol Use Disorder.

Psyence Biomedical has signed a conditional term sheet to acquire Clairvoyant Therapeutics, a Canadian firm developing psilocybin-based treatments. The deal involves an initial payment of $500,000 in shares, with additional payments based on milestones, and up to $1.8 million to address Clairvoyant's liabilities. Clairvoyant's Phase IIb trial for a synthetic psilocybin treatment for Alcohol Use Disorder is expected to yield data in early 2025, potentially enhancing Psyence's position in the psychedelic therapeutics market. The acquisition is subject to several conditions.

September 06, 2024
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