Global investors have thrown their support behind an emerging local biotech start-up developing new therapies to treat mental illness modelled on naturally occurring psychedelics such as psilocybin from magic mushrooms.
Psylo has raised $5 million in a round supported by local fund Main Sequence Ventures, as well as California-based early-stage investor Lionheart Ventures, psychedelic-focused funds Negev Capital and Empath Ventures, and New Zealand-based healthcare VC fund CaraMed Capital.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
