TORONTO, March 10, 2025 (GLOBE NEWSWIRE) — Psyence Group Inc (“Psyence Group” or the “Company“) (CSE: PSYG) is pleased that its NASDAQ-listed associate, Psyence Biomedical Ltd (NASDAQ: PBM) (“PBM” or “Psyence Biomed“), has announced that it will work closely with Albert P. Garcia-Romeu, Ph.D., to chair and develop its newly created Scientific Advisory Board (SAB).
According to a news release issued by PBM, Dr. Garcia-Romeu is a leading psychedelics researcher currently serving as Associate Professor in the Department of Psychiatry and Behavioral Sciences, Johns Hopkins University School of Medicine, as well as Associate Director, Johns Hopkins Center for Psychedelic and Consciousness Research and the Susan Hill Ward Professor in Psychedelics and Consciousness. The news release goes on to state that Dr. Garcia-Romeu is a highly sought after speaker on the therapeutic potential of psilocybin, with a particular emphasis on substance use disorder, and has been extensively published. He has also served as co-investigator and co-primary investigator for numerous psilocybin clinical trials.
The Company shall monitor the progress of PBM’s Pallicybin Phase IIb clinical trial of psilocybin as a potential treatment for Adjustment Disorder in Palliative Care, as PBM continues to recruit additional members for its SAB.
The Company also announces that it has entered into a debt settlement agreement with an arm’s length creditor (the “Creditor“) for settlement of debts owing to the Creditor in an aggregate amount of C$120,000 for consulting services provided to the Company by the Creditor. In settlement of a portion of the debt equal to C$70,000, the Company will issue 400,000 common shares in the capital of the Company at a deemed share issuance price of C$0.175 per share to the Creditor.
About Psyence Group and Psyence Biomed:
Psyence Group is a life science biotechnology company listed on the Canadian Securities Exchange (CSE: PSYG), with a focus on natural psychedelics. Psyence Biomed is the world’s first life science biotechnology company traded on the Nasdaq (NASDAQ: PBM) that is focused on the development of botanical (nature derived, or non-synthetic) psilocybin-based psychedelic medicines, and works with natural 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, Psyence Group works to develop advanced natural psilocybin products for clinical research and development.
Learn more at www.psyence.com.