Freedom Biosciences, a San Francisco, CA-based provider of a clinical-stage biotechnology platform to advance ketamine and psychedelic therapeutics, raised $10.5M in Seed funding.
The round was led by MBX Capital with participation from PsyMed Ventures, Village Global and The Yale Startup.
The company intends to use the funds to advance its current lead ketamine program as well as further multiple additional exploratory programs.
Co-founded in April 2021 by Dr. John Krystal, Chair of the Department of Psychiatry at Yale University, and Dina Burkitbayeva, founder of PsyMed Ventures, alongside Hunter Bouchard and Morgan Springer, Freedom Biosciences is a clinical-stage biotechnology platform developing viable and efficacious ketamine and psychedelic therapeutics.
The company’s FREE001 is a ketamine treatment that’s been demonstrated in clinical trials to have more durable effects than ketamine. A Phase 2 investigational study showed that the combination provided 14 days of antidepressant effects, 2 to 3 times longer than the usual 2-7 days of effects from ketamine alone. This extended efficacy has extremely promising implications for the treatment’s accessibility for patients who are unable to make frequent visits to a clinic.
Key members of the Freedom Biosciences team also include Robert Berman, M.D., who serves as the Head of the Scientific Advisory Board and Senior Medical Advisor. Inaugural members of Freedom Biosciences Scientific and Strategic Advisory Board also include:
- Dr. Zubin Bhagwagar, Global Program Lead at RallyBio with 25+ years of academic and industry experience in biopharma
- Dr. Robin Carhart-Harris, founder of the Center for Psychedelic Research at Imperial College London, has designed human brain imaging studies with LSD, psilocybin, MDMA and DMT, and clinical trials of psilocybin therapy for severe mental illnesses
- Dr. Victoria Hale, former Chair of the Board of Directors at Multidisciplinary Association for Psychedelic Studies (MAPS) and co-founder and former CEO of Medicines360
- Dr. Alex Kwan, Associate Professor in the Meinig School of Biomedical Engineering at Cornell University
- Dr. Tom Laughren, former Division Director for the Division of Psychiatry Products, Center for Drug Evaluation and Research at FDA
- Dr. Kurt Rasmussen, Chief Scientific Officer at Delix Therapeutics and former Head of Division of Therapeutics & Medical Consequences at National Institute on Drug Abuse (NIDA)
- Dr. Gerard Sanacora, Director of Yale Depression Research Program and Co-Director of Yale New Haven Hospital Intervention Psychiatry Service
FinSMEs
23/08/2022