The Trump administration moved to reclassify marijuana from Schedule I to Schedule III under the Controlled Substances Act. The change is expected to ease research restrictions but will not immediately legalize marijuana.
Psyence Biomedical Ltd. completes a $5 million share-for-share equity investment in PsyLabs through put option exercise, strengthening their strategic supply relationship. The transaction involves no cash exchange but gives PsyLabs approximately 50% ownership of PBM. The deal aims to secure pharmaceutical-grade psychedelic compound supply for clinical programs.
Trump signed an executive order to speed FDA review of ibogaine and other psychedelic drugs and said the U.S. would dedicate $50 million to ibogaine research. The FDA is also preparing priority vouchers and steps toward the first U.S. human trials, while ibogaine remains linked to serious heart risks.
Clinical trials show psychedelic substances like psilocybin, LSD and MDMA combined with therapy can effectively treat depression, anxiety and addiction. Several substances are in Phase III trials, with esketamine already approved for treatment-resistant depression. Research suggests these treatments may work with fewer doses than traditional medications.
