Delix Therapeutics Raises $70m Series A to Advance ‘Non-Hallucinogenic’ Psychedelics

Earlier this week, Boston-based Delix Therapeutics announced the closing of its $70 million Series A financing.

The company is seeking to parse out the apparent therapeutic benefits of psychedelics from their hallucinatory properties, dubbing such modified analogs ‘psychoplastogens.’

As the name suggests, Delix’s thesis – largely borne out of co-founder David Olson’s research – hinges on the neuroplasticity-promoting nature of many psychedelics.

In terms of uses of funds, Delix plans to advance two of its lead candidates through Phase 1 clinical trials beginning in 2022. The company has identified a handful of potential clinical development candidates out of a pool of nearly 1,000 novel compounds that Delix claims to have discovered to date.

“We appreciate the overwhelming support from new and early investors alike, and continue to attract top neuroscience, chemistry, and biotech talent as we pursue a unique pathway toward treating – and potentially healing – neuropsychiatric conditions in a new way, at scale,” said Mark Rus, Delix Therapeutics CEO. “We’ve made tremendous progress towards developing efficacious and easily manufactured compounds that have the potential to deliver safe, fast-acting, FDA-approved treatments to help patients in need.”

Two days later, MindMed announced the appointment of Dr. Bryan Roth, who is also looking to remove the hallucinogenic effects from psychedelics, to its Scientific Advisory Board.

Dr. Roth noted, “Psychedelic compounds like psilocybin have some of the most robust antidepressant effects I’ve ever seen in Phase II studies. But not all patients are comfortable with their treatment program requiring hallucinatory trips. My research, and the perspective I’m excited to bring to MindMed’s drug development programs, focuses on how we can make drugs that are maximally helpful to patients while minimizing discomfort in the treatment process.”