Psylo, a San Diego, CA-based biotechnology company focused on the development of next-generation neuroplastogens, raised $8M in Seed funding.
The round was led by Tenmile, with participation from Palo Santo, Focalpoint Ventures (formerly Empath Ventures), Mystic Ventures, and Gaingels.
The company intends to use the funds to accelerate the advancement of PSYLO-100X, its flagship non-hallucinogenic 5-HT2A agonist, for the treatment of depression and other mental health disorders.
Led by CEO Joshua Ismin, and Chief Scientific Officer Samuel Banister, Psylo is a biotechnology company dedicated to developing next-generation neuroplastogens to treat mental health disorders.
Commenting on the news, Ismin said: “This capital raise underscores strong confidence in Psylo’s unique translational approach and the therapeutic potential of our pipeline. Our platform has yielded a non-hallucinogenic candidate designed to be safely administered at home without clinical supervision, and serves to advance our mission to address the mental health crisis for a broader patient population.”
FinSMEs
03/06/2024