Beckley Psytech investors are trying to stimulate enthusiasm to invest new funding in the biotechnology startup, learned Business Insider, while Beckley progresses through clinical trials for his new psychedelic depression drug.
Noetic Fund, a venture capital company that supports health and biotechnology care companies and a previous investor in Beckley Psytech, is looking for participants in an investment vehicle in order to put $ 20 million in Beckley Psytech, according to a noetic email sent to potential investors seen by Business Insider.
The increase would appreciate the company at 200 million dollars before additional funding, giving Beckley Psytech a post-money assessment of up to $ 220 million after fundraising, according to the e-mail.
The efforts are underway and the terms of the agreement may be likely to change. The Noetic fund did not respond to requests for comments.
“We are regularly in discussions with existing shareholders and new potential investors to ensure that the company remains well capitalized. However, there is currently no terms of terms in place with a partner and no active transaction is underway,” said a spokesperson for Beckley Psytech in a BI email.
Beckley Psytech is developing a drug in the form of a short -term intranasal spray to target depression resistant to treatment and alcohol consumption disorder.
The startup based in Oxford, in the United Kingdom, has raised $ 143 million to date, according to Pitchbook. For the last time, he announced $ 50 million in funding in January 2024 from Atai Life Sciences, a German biotechnology which became public in 2021.
Beckley is one of the many companies that jump on the promise of psychedelic compounds for the treatment of depression, alongside multiple public rivals such as the search for GH and compass paths.
These companies follow in the footsteps of Johnson & Johnson, who obtained approval from his own nasal spray for treatment resistant to treatment, Spray, in 2019. The spray, derived from the dissociative Ketamine medication, was the first drug approved to treat depression in more than 35 years.
However, Food and Drug Administration has never approved medication based on conventional psychedellas such as hallucinogenic psilocybin. (Ketamine and its derivatives are not traditionally considered as psychedelic, although they have many psychedelic properties.)
Noetic has told potential investors in his email that Beckley Psytech hopes to become a public within 12 months of the publication of his clinical phase 2B data data, or otherwise continue a strategic mergers and acquisitions.
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Beckley’s beginnings
Beckley Psytech came out of the Beckley Foundation, a non -profit organization set up in the late 1990s to support studies on psychoactive compounds. The co -founders of Beckley Psytech, Amanda Feilding, founder and director of the Beckley Foundation, and her son CEO Cosmo Feilding Mellen, who spent 10 years in the non -profit organization as advisor and executive director, launched the startup in 2019 to develop independently of psychedelic drugs for neuropsychiatric disorders.
Beckley Psytech’s clinical protocol is led by chief science and doctor, Dr. Rob Conley, who was once the scientific director of neuroscience of the pharmaceutical giant Eli Lilly.
The startup’s first medication is based on the 5-meo-dmt psychedelic, a compound found in the venom of the Sonora’s desert toad, as well as several plant species.
The company also develops a second program to treat the major depression disorder using a synthetic formulation of psilocin, the psychedelic compound in psilocybin mushrooms.
Beckley seems to be a little behind the production of trial data for his first medication. The startup said in March that she had completed patient registration for phase 2B of her trial and expected to share the results of the head line by mid-2025.
When Atai Life Sciences announced its investment in Beckley Psytech in January 2024, the company said it expected to see phase 2B data published by the second half of 2024.
Atai Life Sciences is the largest shareholder in Beckley Psytech, according to documents seen by Bi.
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