Psyence Biomedical Ltd.

Empax Center brings significant expertise in clinical trial execution for mental health and neurological conditions Psyence Biomed on track to begin recruitment this quarter, and to announce Adjustment Disorder topline data in the second half of 2025 NEW YORK, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Psyence Group Inc (“ Psyence Group ”) (CSE: PSYG), a life science biotechnology company pioneering the use of nature-derived psilocybin in mental health and wellbeing, is pleased to announce that its NASDAQ-listed associate, Psyence Biomedical Ltd (NASDAQ: PBM) (“ PBM ” or “ Psyence Biomed ”) yesterday announced the recruitment of Perth, Australia-based Empax Center as the second trial site for Psyence’s Biomed ongoing Phase IIb clinical trial of nature-derived psilocybin as a potential treatment for Adjustment Disorder in Palliative Care. According to Dr. Clive Ward-Able, Medical Director of Psyence Biomed, “Having Empax Center as our second clinical trial site adds a cutting-edge facility specializing in mental health treatments, including psychedelic-assisted therapies, and also helps position us to enroll this important study as quickly and efficiently as possible”. He continues that PBM looks “forward to initiating patient treatments soon and working towards topline data in the second half of 2025 that, if positive, will support the initiation of pivotal registrational studies shortly thereafter.” According to the PBM news release the affiliated trial sites will soon commence screening patients, and the first subject is expected to be randomized into the study in early December. “ We are very pleased that Psyence Biomed has achieved another significant milestone in their Phase IIb study, and look forward to further updates on patient enrollment and first patient dosing, ” said Jody Aufrichtig, Executive Chairman of the board of Psyence Group. More information on Psyence Biomed’s upcoming Phase IIb clinical trial can be found at: 12624000449538p . About Empax Center: Located in Perth, Western Australia, Empax Center is a purpose-built facility dedicated to the safe delivery of emerging treatments for serious mental health conditions. Offering safe, effective, and client-centered comprehensive care, Empax Center is led by a team of experienced mental health professionals, including some of the first authorized prescribers of psychedelic-assisted therapies in Australia, to support both research and client care. 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 and on Twitter, Instagram and LinkedIn. Learn more at and on LinkedIn . Contact Information for Psyence Group Email: ir@psyence.com Media Inquiries: media@psyence.com General Information: info@psyence.com Phone: +1 416-477-1708 Contact Information for Psyence Biomed Email: ir@psyencebiomed.com Media Inquiries: media@psyencebiomed.com General Information: info@psyencebiomed.com Phone: +1 416-477-1708 Investor Contact: Jeremy Feffer Managing Director LifeSci Advisors jfeffer@lifesciadvisors.com Forward Looking Statements This communication contains “forward-looking statements” within the meaning of applicable securities legislation. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Forward-looking statements in this communication include statements regarding the progress of PBM’s Phase IIb trial, the obtaining of results and trial data. These forward-looking statements are based on a number of assumptions, including the assumption that PBM’s will execute its Phase IIb trial in accordance with the trial implementation schedule. There are numerous risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, among others: (i) the ability of Psyence Biomed’s contract research partner, iNGENū, to execute its obligations in respect of the trial; (ii) changes in applicable laws which may impact the clinical trial and/or the conducting thereof; (iii) Psyence Biomed’s ability to achieve successful clinical results; (iv) Psyence Biomed’s ability to obtain regulatory approval for its product candidates, and any related restrictions or limitations of any approved products; (v) Psyence Biomed’s ability to obtain licensing of third-party intellectual property rights and supply of raw materials for future discovery and development of its product candidates; (vi) the ability of Psyence Biomed to maintain the listing of its common shares and warrants on Nasdaq; and (vii) volatility in the price of the securities of Psyence Biomed due to a variety of factors, including changes in the competitive and highly regulated industries in which Psyence Biomed operates, variations in performance across competitors, changes in laws and regulations affecting Psyence Biomed’s business and changes in Psyence Biomed’s capital structure. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s management discussion and analysis filed on sedarplus.com, and in the Psyence Biomedical final prospectus (File No. 333 276973) filed with the Securities and Exchange Commission on August 30, 2024 and other documents filed by Psyence Biomed from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Actual results and future events could differ materially from those anticipated in such information. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required by law, neither Psyence Group nor Psyence Biomed intends to update these forward-looking statements. The Company makes no medical, treatment or health benefit claims about the Company’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy, and safety of potential products do not imply that the Company verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company’s performance and operations.

Empax Center brings significant expertise in clinical trial execution for mental health and neurological conditions Psyence Biomed on track to begin recruitment this quarter, and to announce Adjustment Disorder topline data in the second half of 2025 NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq: PBM) ("Psyence Biomed" or the "Company") today announced the recruitment of Perth, Australia-based Empax Center as the second trial site for Psyence’s Biomed ongoing Phase IIb clinical trial of nature-derived psilocybin as a potential treatment for Adjustment Disorder in Palliative Care. “Having Empax Center as our second clinical trial site adds a cutting-edge facility specializing in mental health treatments, including psychedelic-assisted therapies, and also helps position us to enroll this important study as quickly and efficiently as possible,” stated Dr. Clive Ward-Able, Medical Director of Psyence Biomed. “We look forward to initiating patient treatments soon and working towards topline data in the second half of 2025 that, if positive, will support the initiation of pivotal registrational studies shortly thereafter.” Michael Winlo, Chief Executive Officer of Empax Centre, added, “We are delighted to support this important psilocybin trial, which promises a significant step forward in providing innovative care for patients facing severe existential distress and an adjustment disorder due to a recent terminal cancer diagnosis. At Empax, we’ve always envisioned our center as a place where patients can access the best available care alongside the most promising new treatments in mental health, and we look forward to supporting this trial and ensuring patients have a positive study experience from the expertise of our highly skilled team and purpose-designed facilities.” Psyence previously announced that it has entered into partnerships with Fluence, a global leader in professional education and training for psychedelic therapy research, and iNGENū CRO Pty Ltd (“iNGENū”), an Australian clinical research organization (CRO), to support the study. In July, Psyence Biomed announced the successful export of the drug product, PEX010, to Australia, which marked a crucial step in preparation for initiation of the study. The affiliated trial sites will soon commence screening patients, and the first subject is expected to be randomized into the study in early December. About Empax Center: Located in Perth, Western Australia, Empax Center is a purpose-built facility dedicated to the safe delivery of emerging treatments for serious mental health conditions. Offering safe, effective, and client-centered comprehensive care, Empax Center is led by a team of experienced mental health professionals, including some of the first authorized prescribers of psychedelic-assisted therapies in Australia, to support both research and client care. About Psyence Biomed Psyence Biomedical Ltd. (Nasdaq: PBM) is the world’s first life science biotechnology company developing nature-derived (non-synthetic) psilocybin-based psychedelic medicines to be listed on Nasdaq. Psyence Biomed is initially working to address the unmet needs of patients who suffer from mental health disorders in the context of Palliative Care. The name “Psyence” combines the words “psychedelics” and “science” to affirm Psyence Biomed’s commitment to an evidence-based approach to innovation as it works to develop safe and effective, regulatory-approved, nature-derived psychedelic therapeutics to treat a broad range of mental health disorders. Learn more at www.psyencebiomed.com and on LinkedIn. Contact Information Email: ir@psyencebiomed.comMedia Inquiries: media@psyencebiomed.comGeneral Information: info@psyencebiomed.comPhone: +1 416-477-1708 Investor Contact:Jeremy FefferManaging DirectorLifeSci Advisorsjfeffer@lifesciadvisors.com Forward Looking Statements This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. Forward-looking statements in this communication include statements regarding the enrolment of patients at the Empax Center, clinical trial milestones, and obtaining topline data in the second half of 2025. These forward-looking statements are based on a number of assumption the anticipated clinical trial implementation schedule will be adhered to. There are numerous risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, among others: (i) the ability of iNGENū to execute its obligations in respect of the clinical trial; (ii) changes in applicable laws which may impact the clinical trial and/or the conducting thereof; (iii) Psyence Biomed's ability to achieve successful clinical results; (iv) Psyence Biomed’s ability to obtain regulatory approval for its product candidates, and any related restrictions or limitations of any approved products; (v) Psyence Biomed’s ability to maintain the licensing of third-party intellectual property rights and supply of raw materials for future discovery and development of its product candidates; (v) Psyence Biomed’s ability to obtain regulatory approval for the proposed product candidate, and any related restrictions or limitations of any approved products; (vi) the ability of Psyence Biomed to maintain the listing of its common shares and warrants on Nasdaq; and (vii) volatility in the price of the securities of Psyence Biomed due to a variety of factors, including changes in the competitive and highly regulated industries in which Psyence Biomed operates, variations in performance across competitors, changes in laws and regulations affecting Psyence Biomed’s business and changes in Psyence Biomed’s capital structure. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the final prospectus (File No. 333 276973) filed with the Securities and Exchange Commission on August 30, 2024 and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Actual results and future events could differ materially from those anticipated in such information. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required by law, the Company does not intend to update these forward-looking statements. The Company makes no medical, treatment or health benefit claims about the Company’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy, and safety of potential products do not imply that the Company verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company’s performance and operations.

PsyLabs to exclusively supply Psyence Biomed with high purity, pharmaceutical grade psilocybin for its second development indication, Alcohol Use Disorder, as previously announcedNEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq: PBM) ("Psyence Biomed" or the "Company") is pleased to provide an update on its previously-announced pending strategic acquisition of an equity stake in PsyLabs, and progress with PsyLabs’ collaboration with its contract drug manufacturing organization (CDMO). This collaboration is key to advancing the development of PsyLabs' nature-derived psychedelic active pharmaceutical ingredients (APIs) towards E.U. Good Manufacturing Practices (GMP) certification. In September 2024, Psyence Biomed entered into a worldwide, exclusive royalty-bearing IP licensing agreement with PsyLabs for pharmaceutical-grade, EU GMP certified, nature-derived psilocybin to be evaluated in future clinical trials as a potential treatment for Alcohol Use Disorder (AUD) and other Substance Use Disorders (SUDs), and for commercial supply, if approved. Following the successful export of its psilocybin extract to its CDMO in the UK, PsyLabs has now entered phase two of its development process. The CDMO has commenced work on upscaling the purification process to validate its commercial viability, ensuring that the extraction methodology developed by PsyLabs can be efficiently scaled for larger production volumes. This critical phase will confirm that the methods used to achieve PsyLabs' high-purity psilocybin can be replicated on a commercial scale, setting the foundation for E.U. GMP certification. Strategic Progress Toward Commercial Viability This milestone represents significant progress in PsyLabs' journey to produce E.U. GMP certified APIs. The ability to scale the extraction process while maintaining high purity levels is essential for meeting the rigorous demands of global health regulators and advancing through Phase III clinical trials. PsyLabs’ collaboration with its CDMO is designed to ensure that PsyLabs’ APIs are commercially viable and meet the highest quality standards, providing a faster route to market for psychedelic-based therapies. Enhancing Psyence Biomed's Investment Value Psyence Biomed’s pending acquisition of an equity stake in PsyLabs continues to align with its strategy of securing access to pharmaceutical-grade, naturally derived APIs that can serve as the foundation for future clinical trials and FDA-approved drug development. This update marks another important step in solidifying a consistent supply of high-purity psilocybin. Looking Ahead As this next phase progresses, Psyence Biomed remains confident that PsyLabs is on track to produce GMP certified, nature-derived psychedelic APIs. These developments underscore Psyence Biomed’s commitment to innovation and leadership in the psychedelic sector. PsyLabs’ proprietary methods, combined with strategic collaborations like the one with its CDMO, will continue to provide Psyence Biomed with a competitive edge in bringing next-generation mental health treatments to market. “Our strategic acquisition of an equity stake in PsyLabs, when completed later this year, will transition Psyence Biomed into a fully vertically integrated developer of psilocybin-based therapeutics that address significant unmet needs in mental health and addiction,” said Dr. Neil Maresky, Chief Executive Officer of Psyence Biomed. “PsyLabs’ continued progress toward the production of E.U. GMP certified APIs is a critical step going forward, and we are very pleased with their progress to date. We look forward to a long and mutually beneficial partnership with PsyLabs as we advance a psilocybin-based therapeutic as a potential treatment for AUD.” Tony Budden, Chief Executive Officer of PsyLabs, said “We believe our proprietary extraction process will create the highest purity psilocybin available on the market, at a time when regulatory agencies around the world are placing greater emphasis on purity in psychedelic-based drug development programs. About Psyence Biomed Psyence Biomedical Ltd. (Nasdaq: PBM) is one of the world’s few biopharmas with a focus on psychedelic-based pharmaceutical therapeutics. As the first life science biotechnology company developing nature-derived (non-synthetic) psilocybin-based psychedelic medicine to be listed on Nasdaq, Psyence is initially working to address the unmet needs of patients who suffer from mental health disorders in the context of Palliative Care. The name “Psyence” combines the words “psychedelics” and “science” to affirm Psyence Biomed’s commitment to an evidence-based approach to innovation as it works to develop safe and effective, FDA-approved, nature-derived psychedelic therapeutics to treat a broad range of mental health disorders. Learn more at www.psyencebiomed.com and on LinkedIn. Contact Information Email: ir@psyencebiomed.comMedia Inquiries: media@psyencebiomed.comGeneral Information: info@psyencebiomed.comPhone: +1 416-477-1708 Investor Contact:Jeremy FefferManaging DirectorLifeSci Advisorsjfeffer@lifesciadvisors.com Forward Looking Statements This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. Forward-looking statements in this communication include statements regarding the fulfilment of the conditions to the closing of the strategic acquisition of an equity stake in PsyLabs (the "Acquisition"), access to the capital and liquidity required for Psyence Biomed to execute on the AUD strategy and PsyLabs' ability to successfully deliver its intended drug product. These forward-looking statements are based on a number of assumptions, including the assumptions that the parties will obtain all such regulatory, corporate, shareholder and other approvals as may be required to implement the Acquisition, the continuation of PsyLabs' product development strategy as referred to in this news release on schedule, and the safety and effectiveness of psilocybin as a treatment option for AUD. There are numerous risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, among others: (i) the inability to complete the Acquisition; (ii) the inability to recognize the anticipated benefits of the Acquisition (iii) the ability of PsyLabs to execute its obligations in respect of its product development objectives; (iv) changes in applicable laws which may impact drug development, clinical trials and/or the conducting thereof; (v) Psyence Biomed’s ability to obtain regulatory approval for the proposed product candidate, and any related restrictions or limitations of any approved products; (vi) the ability of Psyence Biomed to maintain the listing of its common shares and warrants on Nasdaq; and (vii) volatility in the price of the securities of Psyence Biomed due to a variety of factors, including changes in the competitive and highly regulated industries in which Psyence Biomed operates, variations in performance across competitors, changes in laws and regulations affecting Psyence Biomed’s business and changes in Psyence Biomed’s capital structure. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the final prospectus (File No. 333 276973) filed with the Securities and Exchange Commission on August 30, 2024 and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Actual results and future events could differ materially from those anticipated in such information. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required by law, the Company does not intend to update these forward-looking statements. The Company makes no medical, treatment or health benefit claims about the Company’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy, and safety of potential products do not imply that the Company verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company’s performance and operations.