About
PsyRx is a pharmaceutical R&D company developing biological API psilocybin and ibogaine in accordance with GMP standards. Using biological bioreactor technology, the company is focused on becoming a leading producer of GMP-standard ibogaine and psilocybin for use by target customers in the development and production of psychedelic- and ibogaine-based pharmaceuticals, food supplements, and other products. PsyRx also aims to develop a revolutionary antidepressant drug based on a combination of ibogaine and existing approved antidepressants, with a focus on reducing side effects and improving efficacy. The companys vision is to develop new drugs for the treatment of depression and addiction by using existing regulatory-approved antidepressant drug formulations with ibogaine. Ibogaine is also known to affect the brain much like antidepressants, but through different pathways. Therefore, PsyRx believes that there might be synergy between these two drugs, enabling them to treat depression with better efficacy and fewer side effects than existing antidepressants.
Funding history · 3 rounds · $2.4M total
Company Intelligence Q&A
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- What is PsyRx's primary focus in drug development?
- PsyRx is a pharmaceutical R&D company developing biological API psilocybin and ibogaine according to GMP standards, using biological bioreactor technology.
- What is PsyRx's vision for new drug development?
- PsyRx aims to develop a revolutionary antidepressant drug combining ibogaine with existing approved antidepressants to reduce side effects and improve efficacy for treating depression and addiction.
- When was PsyRx founded?
- PsyRx was founded in October 2019.
- What was PsyRx's most recent funding round?
- PsyRx completed a Seed funding round in July 2023, raising $330,000. For full financing history, refer to startupim.
- What is the total amount of funding PsyRx has raised to date?
- PsyRx has raised a total of $2,380,000 across its funding rounds.
- How many employees does PsyRx currently have?
- PsyRx currently has between 1 and 10 employees.
- When did PsyRx announce the appointment of Prof. Itamar Grotto?
- In February 2022, PsyRx announced the appointment of Prof. Itamar Grotto as the new Executive Chairman of the Board.
- What patent does PsyRx hold?
- PsyRx holds a patent, filed in October 2019, for a 'Method for In-vitro manufacturing secondary metabolites in inboga root suspension and psilocybin suspension bioreactor'.