5 years ago

Beckley Psytech Raises £3 Million for Psychedelic Drug Research

  • Beckley Psytech, a UK medtech company, has raised £3 million in Series A funding from investors including Innocent Drinks founder Richard Reed and Jim Mellon

  • The company is researching a psychedelic compound called 5-MeO-DMT, which it believes could be an effective treatment for depression and addiction

  • The company plans to conduct the first-ever regulatory-standard clinical study with this drug in humans, with the aim of developing this into a licensed pharmaceutical medicine

  • This news comes on the heels of another UK-based company, Compass Pathways, raising $80 million to expand its research into using psilocybin (the hallucinogenic substance in magic mushrooms) as a treatment for depression

  • The article discusses the growing interest in psychedelic drugs as potential treatments for mental health conditions and the potential for the industry to become mainstream.

      • ProblemHealthcare

      "Millions of people suffer from debilitating mental health conditions, such as depression and addiction, and existing treatments are often ineffective or have serious side effects."

      Solution

      "Beckley Psytech is developing a synthetic version of 5-MeO-DMT, a psychedelic compound found in the Sonoran Desert Toad, as a potential treatment for neuropsychiatric disorders. The drug is designed to be administered in a controlled clinical setting with appropriate safeguards and psychotherapy support."

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