XTL Biopharmaceuticals to Acquire PsygaBio Ltd. and its Psychedelic Clinical Pipeline

On April 28, 2026, XTL Biopharmaceuticals Ltd. entered into a definitive share purchase agreement to acquire 100% of PsygaBio Ltd., an advanced Israeli biotechnology company led by Professor Dedi Meiri. PsygaBio focuses on psychedelic and functional mushroom-derived products, maintaining a proprietary library of over 180 mushroom strains and a GMP-ready manufacturing facility. The acquisition includes a clinical pipeline of seven approved Phase 2a human clinical trials targeting mental health, addiction, and neurological disorders. The transaction is structured as an all-stock deal. XTL will issue ADSs representing 40% of its post-closing share capital to PsygaBio shareholders. Additionally, shareholders may receive three further tranches of ADSs (10% each) upon achieving specific clinical and commercial milestones, including the commencement of three clinical trials and successful targets in two trials. The deal is considered an interested party transaction as XTL director Alexander Rabinovich is also the Chairman of PsygaBio. To support the merger, XTL secured a $1.5 million private placement commitment. The closing is subject to shareholder approval and customary conditions.