XTL BioPharma Closes Acquisition Of Psyga Bio; Shifts Focus To Psychedelic Therapies

XTL BioPharma Closes Acquisition Of Psyga Bio; Shifts Focus To Psychedelic Therapies: XTL Biopharmaceuticals Ltd. (XTLB) announced the completion of its acquisition of Psyga Bio Ltd., positioning psychedelic operations as the company’s exclusive core business. Psyga Bio develops a pipeline based on psilocybin and related derivatives aimed at severe mental health disorders, including treatment-resistant depression, PTSD, anorexia, and addictions. The company also operates a licensed pharmaceutical manufacturing facility for clinical trials, producing medical-grade psychedelic APIs through cultivation, extraction, isolation, and formulation. Under the earlier agreement, XTL acquired 0.27 million Psyga Bio shares, about 83.40% of Psyga’s share capital on a fully diluted basis, using American Depositary Shares (ADSs) representing about 33.36% of XTL’s capital post-issuance, with each ADS representing 400 ordinary shares. Psyga shareholders may also receive up to an additional 25.02% of XTL capital after three clinical and commercial milestones. XTLB’s stock closed at $2.73 on Tuesday, up 15.68%.