XTL Biopharmaceuticals Acquires Psyga Bio to Expand Psychedelic Therapeutics Portfolio
XTL Biopharmaceuticals (XTLB) has acquired Psyga Bio, gaining access to seven Phase 2a clinical programs and GMP-ready manufacturing facilities for psychedelic compounds. The equity-based deal involves Psyga shareholders receiving 40% of XTL post-transaction, with potential for additional equity based on milestones. The acquisition positions XTL in the growing psychedelic therapeutics market.
Topics: acquisition biotech clinical trials equity transaction manufacturing psychedelic therapeutics