A new alkaloid from the lyophilized mycelia of a Claviceps purpurea strain, N-[N-(d-Lysergyl)-l-valyl]-l-phenylalanyl-d-prolin-lactam, has been isolated and characterized. From its fast methanolysis it is deduced that the previously reported N-(d-Lysergyl)-l-valinmethylester is actually an artefact. The biogenetic significance and its possible role in biogenesis of Ergocristine is discussed. © 1973 Birkhäuser Verlag.