As we look back on the past year, 2025 marked a turning point for Psyence BioMed – one defined not by theoretical progress or speculative optimism, but by disciplined execution, clinical momentum, and a strategic deepening of our position as a leader in nature-derived psychedelic therapeutics.

We recruited and dosed our first patients in a Phase IIb study. Through a further investment in PsyLabs we secured our psychedelic compound supply chain and became the only listed company with an investment in sustainable Ibogaine at source in Africa. We commenced studies in the exciting field of Longevity and ended the year debt free with over USD $9 million in cash reserves.

When we last addressed investors, we emphasized that the coming 12–18 months would shape the Company’s trajectory. Today, I am pleased to report that Psyence BioMed not only met those expectations but surpassed them in ways that now position us as one of the most differentiated companies in the emerging global psychedelics sector.

Our Australian Phase IIb clinical program evaluating psilocybin-assisted therapy for Adjustment Disorder in palliative care transitioned meaningfully from planning into real-world impact. We dosed multiple patients, expanded recruitment infrastructure, and strengthened operational execution through our partnership with Southern Star Research.

These milestones are important, but they also represent something broader: the recognition that psychedelic medicine – properly developed, ethically delivered, and rooted in natural compounds – has the potential to reshape the emotional, psychological, and existential dimensions of human aging. Longevity science increasingly acknowledges that emotional well-being, psychological adaptability, neuroplasticity, and a person’s relationship to aging and mortality are foundational determinants of healthspan.

Our work in palliative-care mental health is therefore not an endpoint, but a launch point. By studying emotional distress at the end of life, we gain unique insights into the biological and experiential processes that define aging itself. Psyence BioMed stands alone in understanding this connection and designing a corporate strategy around it.

Operationally, we strengthened the foundation required to lead in this emerging territory. Our expanded partnership with PsyLabs, supported through a significant follow-on investment, secured reliable access to GMP compliant, nature-derived psilocybin and ibogaine – two compounds with profound relevance not only for emotional health, but for the frontier of neuroplasticity and psychosocial aging research. Our breakthrough in high-purity ibogaine production underscores that our supply-chain strategy is not merely about reliability but about enabling new therapeutic pathways central to the longevity sciences.

As global conversation shifts toward interventions that extend healthspan and improve late-life emotional resilience, Psyence BioMed is one of the few companies – public or private – with true vertical integration from ethically sourced APIs to clinical application.

“This year also brought important corporate and regulatory progress.”

This year also brought important corporate and regulatory progress. We regained full compliance with Nasdaq listing requirements, strengthening our long-term capital markets posture during a period when many early stage biotechs struggled. We enhanced governance and expanded our operational infrastructure to support the next phase of growth. These are not peripheral accomplishments – they are markers of an emerging mature biotech platform.

Among the most significant developments was the Therapeutic Goods Administration’s  (TGA) public consultation on recognizing psilocybin-assisted therapy as a treatment for existential distress in patients facing life-limiting illness. This consultation aligns directly with our clinical trial population and represents a meaningful regulatory tailwind. If approved, the amendment would formally validate existential distress as a legitimate medical indication, expand prescriber eligibility to include palliative-care specialists, and enable supervised access through the existing Authorised Prescriber framework. For Psyence BioMed, this represents not only a validation of our clinical strategy, but also a broader cultural recognition of the role psychedelics can play in emotional and existential health throughout the aging process. The submission presented to the TGA by the Palliative Care Psychedelic-Assisted Therapy Coalition, with support from Mind Medicine Australia, articulates the robust scientific and ethical rationale behind this direction, and we believe the momentum is strong.

As we enter 2026, our ambition is unambiguous: to cement Psyence BioMed as the global leader at the convergence of psychedelic medicine and longevity science. This is an emerging category that we believe has enormous potential, and we are currently the only publicly listed psychedelics company investing meaningfully and strategically in longevity science. This positioning is not marketing conjecture – it is a competitive reality. We view longevity not merely as lifespan extension, but as a framework for improving cognitive resilience, emotional stability, psychological adaptability and quality of life across all stages of aging. Our palliative program is a gateway into this broader field. It gives us early regulatory opportunities, rich clinical insights, and a scientifically grounded pathway into adjacent indications related to aging, stress biology, neuroplasticity, and late-life emotional health.

Looking forward, we believe nature-derived psilocybin, ibogaine, and related compounds will play increasingly important roles in how modern medicine addresses cognitive decline, emotional burden, depression in advanced aging, end-of-life transitions, and the broader continuum of psychosocial aging. Few companies possess the infrastructure, the supply chain, or the scientific conviction to operate in this space. We believe that Psyence BioMed stands alone.

For shareholders, the opportunity ahead is expected to be substantial. As regulatory momentum builds, clinical data emerges, and longevity research becomes a defining global theme, Psyence BioMed enters 2026 with real leverage: a differentiated strategy, a strengthened operational base, a clinically validated pathway, and an ambition aligned with one of the most important health megatrends of our time – the expansion not just of lifespan, but of healthspan. We are proud of what we have achieved in 2025, and even more excited about the anticipated value creation that lies ahead as we continue to advance the frontier of longevity-driven psychedelic medicine.

Thank you for your confidence, support, and partnership. We look forward to sharing our progress as we accelerate this mission into 2026 and beyond.

Warm regards,

Jody Aufrichtig

Chief Executive Officer
Psyence BioMed

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 progress of the Phase IIb clinical trial, the expansion of the Company’s current and future programs, the expansion of the Company’s manufacturing capabilities, the potential of psychedelic medicine and longevity science, the growth of the biotech industry, and the opportunity created for shareholders. These forward-looking statements are based on a number of assumptions, including the assumption that there will be no delays in the execution of the Phase IIb clinical trial implementation schedule, the Company will secure the necessary regulatory and other consents required to expand its current and future programs, and that the demand for psychedelic-assisted therapy will continue to increase. There can be no assurance that the Company will continue to maintain compliance with Nasdaq’s continued listing requirements. 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) delays in the execution of the Phase IIb trial; (ii) the ability of Psyence BioMed to maintain the listing of its common shares and warrants on Nasdaq; (iii) volatility in the price of the securities of Psyence BioMed due to a variety of factors, including the recent share consolidation, 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 final prospectus (File No. 333-289285) filed with the Securities and Exchange Commission (the “SEC”) on November 3, 2025 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 statements. 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, Psyence BioMed does not intend to update these forward-looking statements.

The Company does not make any medical, treatment or health benefit claims about its 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 authorized clinical 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 the proposed products. Any references to quality, consistency, efficacy, and safety of potential products do not imply that the Company has 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.