MycoMedica Life Sciences Secures $60 Million in Funding

MycoMedica Life Sciences, PBC, a company that develops and delivers fungi-based therapeutic drug to treat neurological disorders and psychiatric conditions, has raised $60 million.

Obvious Ventures was the lead investor, True Ventures was True Ventures, and Kittyhawk Ventures were the other participants.

The proceeds from the financing will be used to advance the company’s next stage of operations on the path to FDA approval for an Investigational New Drug Application (IND) – pre-clinical research and initial clinical trials of the Stamets Stack.

Led by Paul Stamets, CEO and Founder, and Sanjay Dubé M.D., President and Chief Medical Officer, MycoMedica has developed the Stamets Stack, which uses a novel combination of ingredients – not found together in nature – to unlock the potential effectiveness of psilocybin in the prevention and treatment of psychiatric and neurological disorders. The company’s initial research is centered on microdosing, which also allows for greater patient affordability and accessibility.

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