Psyence is a clinical-stage biopharmaceutical company developing nature-derived psilocybin treatments for mental health conditions. The lead drug candidate, NPX-5, is a natural psilocybin capsule extracted from mushrooms. Psyence targets Adjustment Disorder in palliative care cancer patients using psilocybin-assisted psychotherapy, which combines supervised dosing sessions with a multi-week course of structured therapy. The company is currently conducting a Phase IIb clinical trial in Australia to evaluate the safety and efficacy of NPX-5. Psyence is pre-revenue and focuses its resources on clinical development. The business model relies on a strategic partnership with PsyLabs, a manufacturer of pharmaceutical-grade natural psychedelics. Psyence maintains an equity stake in PsyLabs and holds exclusive licenses for NPX-5 in specific regions and fields of use. Psyence retains full ownership of all clinical data generated through its research. The growth strategy includes expanding the pipeline to treat Alcohol Use Disorder and other substance use disorders, including the evaluation of ibogaine for medical use. Potential commercial models include supplying NPX-5 to oncology clinics, partnering with healthcare providers to deliver therapy protocols, or operating dedicated therapy centers.