Psylo Raises $8M in Seed Funding
Summary
Psylo, a San Diego, CA-based biotechnology company focused on the development of next-generation neuroplastogens, raised $8M in Seed funding. 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.”