Oxford-based startup Beckley Psytech in the United Kingdom announced August 15 that it raised $80 million to ramp up clinical trials and research using a pharmaceutical formulation of 5-MeO-DMT (5-methoxy-N,N-dimethyltryptamine), a powerful compound produced endogenously by Sonoran Desert toad venom, to treat depression.
The Series B financing was initially set at $50 million—but was upgraded to $80 million due to “overwhelming interest” from investors to support accelerating the clinical development of its psychedelic medicine research pipeline.
The financing round is led by Integrated, and the science-focused investor consortium includes Prime Movers Labs, which funds breakthrough scientific startups; Adage Capital Management LP, a Boston based institutional investor; Palo Santo; Delphi VC; Leafy Tunnel; Negev Capital; and existing investor Bicycle Day Ventures.
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Psychedelic Toad Venom Clinical Research Boosted by $80M in Funding
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