Psymed Ventures is an investment syndicate that invests in early-stage psychedelics companies. The firm was founded in 2020 by Matias Serebrinsky and Dina Burkitbayeva and is headquartered in San Francisco, California, United States.

PsyMed Ventures

Bright Minds Biosciences

Bright Minds is focused on developing novel transformative treatments for neuropsychiatry disorders, epilepsy and pain. Bright Minds has a portfolio of next generation serotonin agonists designed to precisely target abnormalities in neurocircuitry that lead to dysfunctional behaviors. The Company is developing targeted therapies with the potential to improve the treatment of mental health and neurological disorders through the use of serotonergic compounds leveraging its world class scientific and drug development expertise to bring forward the next generation of safe and efficacious drugs. Bright Minds drugs extenuate the therapeutic aspects of psychedelic and other serotonergic compounds while minimizing the side effects thereby creating superior drugs to first generation compounds, such as psilocybin.

<div>Vancouver-based Bright Minds is a preclinical biotechnology company offering psychedelic treatments for mental health and neurological disorders. The company focuses on treating mental conditions by targeting the serotonin receptor agonists in the nervous system using psilocybin-based formulations.</div>

Promising research and receding stigma are giving investors cannabis-boom flashbacks.

Psychedelic Medicine

Bright Minds

Bright Minds Biosciences participates in a conference call with Truist

<div>
 
 Vancouver-based Bright Minds is a preclinical biotechnology company offering psychedelic treatments for mental health and neurological disorders. The company focuses on treating mental conditions by targeting the serotonin receptor agonists in the nervous system using psilocybin-based formulations.
 
 
 Founded in 2017, the company has three 5-HT (serotonin) drug candidates in its pipeline that include 1) 5-HT2C to treat an undisclosed seizure disorder, opioid use disorder, binge eating disorder, and Alzheimer&rsquo;s disease, 2) 5-HT2A to treat depression and post-traumatic stress disorder (PTSD), and 3) 5-HT2A + 5-HT2C to treat an undisclosed chronic pain disorder. All of the company&rsquo;s products are in the preclinical stage; however, 5-HT2C is in its late preclinical stage, progressing toward Phase 1.
 
 
 The company was selected to participate in two National Institutes of Health (NIH) programs, evaluating the company&rsquo;s compounds to treat epilepsy and non-opioid pain management. The company has also collaborated with the University Of Texas Medical Branch, the Medical College of Wisconsin, and Katholieke Universiteit Leuven (Belgium).&nbsp;
 
 
 Funding and financials
 
 
 The company listed on the Canadian Securities Exchange (CSE) in February 2021 under the ticker symbol &ldquo;DRUG&rdquo; and also commenced trading in the over-the-counter markets (OTCQB) in May 2021 under the ticker symbol &ldquo;BMBIF.&rdquo; In 
 <a href="https://sp-edge.com/updates/24705">
 December 2023
 </a>
 , the company raised CAD 0.9 million via a private placement comprising 0.67 million units at CAD 1.36 per unit. The new funds were used towards the company's Phase II clinical trial for BMB-101 in a pediatric epilepsy indication. 
 
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 Canadian biotech firm Core One Labs maintains three primary business operations: 1) developing novel delivery systems for psychedelic medicines, 2) psilocybin manufacturing, and 3) medical clinics to provide psychedelic-assisted psychotherapy. The company has developed proprietary technology with infused strips that dissolve immediately when placed in the patient&rsquo;s mouth to deliver molecules with a higher level of bioavailability. The company plans to advance this technology to incorporate psychedelic molecules, particularly psilocybin.&nbsp;
 
 
 Core One Labs also claims it has discovered a patentable method of producing high-quality psilocybin, which it may license to pharmaceutical companies. Additionally, the company has two psychedelic clinics in Vancouver that currently support clinical trials and maintain a database of more than 275,000 patients. The company acquired Vocan Biotechnologies and Akome Biotech in May 2021 for undisclosed amounts. Akome is developing a patent-pending psychedelic drug formulation for the treatment of Alzheimer&rsquo;s Disease.&nbsp;
 
 
 Core One Labs is listed on the Canadian Securities Exchange (CSE) and OTC markets.
 
 
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Core One Labs

<div>
 
 Vancouver-based Lobe Sciences (formerly GreenStar Biosciences) is a biotechnology company developing psychedelic medicines (microdose applications) and medical devices for efficient drug delivery. The company&rsquo;s main focus is the treatment of mild traumatic brain injury and post-traumatic stress disorder (PTSD). It is also conducting early studies on psilocybin combined with N-acetylcysteine (NAC), and MDMA combined with NAC as a treatment. Lobe is also developing a patent pending nasal mist transducer device for the delivery of medicines directly to the brain&rsquo;s olfactory bulb.&nbsp;
 
 
 In June 2020, Lobe acquired Eleusian Biosciences, a company focused on the development of psychedelic medicine which expanded its intellectual property portfolio with three US patent applications for psychedelic therapeutics. Lobe is also collaborating with the University of Miami&rsquo;s Miller School of Medicine to conduct preclinical studies. After its restructuring and name change, the company started trading on the Canadian Securities Exchange (CSE) in November 2020.
 
 
 
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Lobe Sciences

<div>
 
 Cybin is a psychedelic biotechnology company developing treatments for psychiatric and neurological conditions. Through its Serenity Life Science division, Cybin conducted Phase II of clinical trials on using psilocybin to treat major depressive disorder. Additionally, the company's Nature's Journey division focuses on creating non-psychedelic medicinal and nutraceutical mental health products.
 
 
 Cybin is actively building a patent portfolio, including chemically-synthesized compounds, delivery mechanisms, protocols, and new drug formulations. It has also filed an International Patent Application through the Patent Cooperation Treaty, potentially covering 153 countries.&nbsp;
 
 
 In July 2023, the company announced 
 <a href="https://sp-edge.com/updates/20076">
 EMBARKCT, 
 </a>
 a streamlined version of its EMBARK training program for pivotal studies of lead candidates, CYB003 for major depressive disorder and CYB004 for generalized anxiety disorder, respectively. In 
 <a href="https://sp-edge.com/updates/27577">
 March 2024
 </a>
 , the company received a breakthrough designation from the FDA for CYB003, and expects to initiate Phase III clinical trials for the program by mid-2024.
 
 
 Cybin implements an M&amp;A strategy to grow in the psychedelic industry. It did a reverse takeover of Charmin in June 2020, raising CAD 45 million (USD 35.5 million) for clinical studies. It acquired Adelia Therapeutics in December 2020, adding novel treatments and patent applications. Also in 
 <a href="https://sp-edge.com/updates/21335">
 August 2023 
 </a>
 it acquired 
 <a href="https://sp-edge.com/companies/470858">
 Small Pharma 
 </a>
 in an all-share transaction to strengthen its psychedelic portfolio.&nbsp;
 
 
 Founded in 2019, Cybin is listed on the NEO exchange under the ticker symbol &ldquo;CYBN&rdquo; and was uplisted to the NYSE American Stock Exchange in July 2021 under the same symbol. For FY2023, the company reported a decrease in net loss by 29.7% YoY to CAD 47.5 million (USD 35 million).&nbsp;
 Further in 
 <a href="https://sp-edge.com/updates/33849">
 September 2024
 </a>
 , it completed a 38-to-1 share consolidation of its common stock which reduced the number of outstanding common shares to ~20 million. 
 
 
 Key customers and partnerships&nbsp;
 
 
 In July 2020, Cybin expanded its operations and research activities in the European region via research partnerships and transferred its intellectual property assets to its fully-owned Irish subsidiary (formed in May 2021). In July 2023, the company partnered with 
 <a href="https://sp-edge.com/updates/20455">
 Worldwide Clinical Trials
 </a>
 to develop new psychedelic-based treatment options for mental health conditions, including major depressive disorder. Further, in September 2023, the company partnered with 
 <a href="https://sp-edge.com/updates/22180">
 Fluence
 </a>
 to support Cybin's EMBARK facilitator training program.
 
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Cybin

<div>
 
 Canadian cannabinoid-based therapeutics company BioNxt Solutions
 (formerly Xphyto Therapeutics) announced in November 2020 that it has expanded its drug development program to incorporate a number of psychedelic compounds. This includes substances such as psilocybin, mescaline, LSD, MDMA, and DMT. Xphyto&rsquo;s initial focus is on developing standardized drug formulations with efficient delivery mechanisms for therapeutic use.
 
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BioNxt Solutions

<div>
 
 New York-based Gilgamesh Pharmaceuticals is a biotechnology company developing psychedelic-inspired medicines for neuropsychiatric conditions such as depression, anxiety, addiction, and cognitive deficits. The company has three research programs in its pipeline: 1) Serotonergic Micro-Dose&ndash;a non psychedelic therapeutic treatment for attention deficit hyperactivity disorder (ADHD) and mood/anxiety disorders, 2) Arylcyclohexylamine&ndash;an improved molecule of ketamine for treatment-resistant depression and opiate use disorder, and 3) Novel Ibogaine Analogue&ndash;for the treatment of substance use disorders.&nbsp;
 
 
 Gilgamesh is one of the few psychedelic companies launched by the startup accelerator Y Combinator, and as such enjoys the accelerator&rsquo;s world-famous business expertise and network.
 
 
 Key customers and partnerships
 
 
 In 
 <a href="https://sp-edge.com/updates/29382">
 May 2024
 </a>
 , the company partnered with AbbVie to leverage AbbVie's psychiatric expertise and Gilgamesh's research platform to create novel &quot;neuroplastogens.&quot; 
 
 
 Funding and Financials
 
 
 In 
 <a href="https://sp-edge.com/updates/27575">
 March 2024
 </a>
 , the company received a grant of&nbsp; USD 14 million from the National Institute on Drug Abuse to develop the GM-3009 compound. Prior to this, it raised USD 39 million in a 
 <a href="https://sp-edge.com/updates/15359">
 Series B 
 </a>
 funding round led by Prime Movers Lab in December 2022. 
 
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Gilgamesh Pharmaceuticals

Companies conducting research on psychedelic compounds and developing novel therapeutics.

Companies operating digital platforms to deliver psychedelic therapies including psychedelic integration, virtual experiences, and mental coaching and tracking. AI drug discovery companies specializing in psychedelic therapeutics are also included.

Companies operating clinics and treatment centers to deliver psychedelic therapies.

Companies supplying psychedelic compounds through cultivation, chemical synthesis and biosynthesis for medical research and drug development.

Companies building a patent portfolio of novel analogs and derivatives of first-generation psychedelics and new drug delivery mechanisms. 

Artificial intelligence is identifying and testing new therapies faster than ever.

AI Drug Discovery

PROMINENT_CATEGORY

<div>
 
 Firefly Neuroscience, an AI-powered brain health company, has formed a partnership with Bright Minds Biosciences, a neuropsychiatric drug developer. Together, they will analyze data from the Phase I clinical trial of Bright Minds Biosciences' lead compound, BMB-101. BMB-101 targets neuropsychiatric disorders and refractory epilepsy. However, specific terms and financial details of the partnership remain undisclosed.
 The two companies plan to leverage Firefly's AI platform to examine the clinical study data more thoroughly. The trial has reportedly shown positive effects on the Quantitative Electroencephalogram (qEEG) data, procured through tests on a 19-electrode EEG headset delivered by Zeto. By utilizing Firefly's platform, the companies aim to analyze further and validate BMB-101's efficacy in treating neuropsychiatric disorders and refractory epilepsy.
 Firefly Neuroscience is a pioneer in developing neuron science solutions using AI, aiming to enhance patient outcomes dealing with mental illnesses and neurological disorders. The key technology offered by Firefly is the FDA-510(k)-approved Brain Network Analytics (BNA) platform, chiefly crafted to improve the diagnostic and treatment monitoring processes for various conditions, including but not limited to depression, dementia, anxiety disorders, concussions, and ADHD.
 
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Bright Minds

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