Psilera announced the closing of an oversubscribed $8.8 million Series Seed extension funding round led by a syndicate of institutional and strategic investors. The company said the capital will be used to advance its lead clinical asset, PSIL-006, toward first-in-human trials targeted for 2027.
PSIL-006 is described as a first-in-class neuroplastogen engineered to deliver the therapeutic benefits associated with traditional psychedelic compounds while minimizing hallucinogenic effects and cardiovascular risks. The company is developing the compound as part of its broader effort to create next-generation psychedelic therapies and neuroplastogens for neurological conditions.
According to the company, the financing positions Psilera to transition from a discovery-stage research company into a clinical-stage organization. The funding announcement also follows several milestones for the company, including the appointment of neuroscience industry veteran Magali Haas, MD/PhD, as chief medical officer, an NIH funding award of up to $2 million for IND-enabling studies of PSIL-006 in alcohol use disorder, and a strategic licensing agreement with atai Life Sciences, now operating as AtaiBeckley, for its DMT patent portfolio.
Psilera said it plans to continue advancing its pipeline of neuroplastogens and psychedelic-inspired therapies through precision neuropharmacology research.
KEY QUOTES:
“This funding marks a pivotal inflection point for Psilera. With the continued support of our investors, we are now fully resourced to transition from a discovery-stage research company to a clinical-stage organization. Our mission is to provide safe, effective, and accessible treatments for patients suffering from a range of neurological conditions, and this capital ensures we remain on track for our first-in-human trials in 2027.
We are pleased to see support by the Administration to increase access to psychedelic drugs and expedite the development of innovative treatments with the recently signed U.S. Executive Order, ‘Accelerating Medical Treatments for Serious Mental Illness.’ With the renewed focus from key regulatory agencies, we look forward to working with them to fully develop PSIL-006.”
Dr. Chris Witowski, Co-Founder and CEO, Psilera
