Psyched: Atai Raises $157M, Silo Wellness Goes Public, Mydecine Completes Export Of 'Magic Mushrooms'

Atai Inks Largest Fundraise In Sector History With $157M Series D

Psychedelics and mental health company Atai Life Sciences has raised $157 million in venture capital.

The Series D funding round is being touted as the psychedelics sector’s largest to date.

Christian Angermayer, who founded Atai in 2018, led the effort with Thiel Capital, the venture capital firm of tech billionaire Peter Thiel.

Apeiron Investment Group and Woodline Partners LP also participated.

Atai’s portfolio companies are researching 13 different psychedelic and non-psychedelic compounds for the treatment of a wide range of mental health disorders. Atai is an early investor and holds a significant stake in Compass Pathways CMPS.

Last November, Atai closed a Series C financing round for $125 million. A spokesperson told Benzinga that the company is expected to list on NASDAQ during 2021, but exact dates are still to be confirmed.

Credit Suisse and Citigroup are advising the IPO process, and the company’s IPO valuation could reach $2 Billion, Bloomberg reported.

Mydecine Exports Psilocybin Mushrooms From Jamaica To Canada 

Mydecine MYCOF announced the successful export of 20 kilograms of dried psilocybin mushrooms from a cultivation facility in Jamaica to a facility in Canada.

According to the Denver-based company, this represents the first-ever legal international export of psilocybin mushrooms.

Mydecine was able to receive the shipment by the exercise of a Health Canada Schedule 1 Dealer’s License held by its Canadian facility, which permits the “import/export, research and development, cultivation, product development, and commercial sale of active psychedelic medicinal compounds.”

“We are now able to access a quality source of much-needed product for both our own research purposes, as well as provide CGMP naturally-derived psilocybin to sell and transfer to other licensed research facilities around the globe,” Mydecine CEO and Chairman Joshua Bartch said in a prepared statement.

Silo Wellness Goes Public

Silo Wellness, an Oregon-based psychedelics company, announced the closing of its reverse take-over with FlyOverture Equity Inc., resulting in the listing of its stock on the Canadian Stock Exchange under the symbol 'SILO,' starting Friday.

The company recently closed a round of $5 million in financing, which will be used to support business operations and attract talent across the industry.

CEO Douglas Gordon told Benzinga that the company was founded on the principle of making medicinal psychedelics available to as wide an audience as possible through the legal means available today.

“There are a lot of folks struggling out there. And we have access to this wonderful plant medicine that can make a material difference in their lives. And so the commercialization of our business is first and foremost to be able to facilitate getting that medicine to as many people as can get it. And that's what going public has done for us, it has given us access to the capital that we can utilize to further that mission,” said Gordon.

Silo is preparing to expand its ongoing psychedelic retreat operations in Oregon and Jamaica, as well as scale-up R&D around psilocybin and the market reach of its functional mushroom line.

CEO Douglas Gordon expanded on the company’s business plan in a recent interview with Benzinga.

Mind Cure Dives Into Ibogaine

This week, Mind Cure Health MCURF announced it has begun manufacturing pharmaceutical grade ibogaine to be used in preclinical and clinical research.

The company stated the need to produce lab-made ibogaine due to raising concerns around the risk of extinction of ibogaine’s natural source, the iboga shrub.

"Ibogaine is among a few psychoactive alkaloids found in the iboga plant. Ibogaine offers incredible therapeutic potential, especially in the context of neuroregeneration," said Dr. Ryan Hartwell, Mind Cure’s Chief Science Officer.

The company also stated that it has identified new opportunities of using ibogaine to treat neuropathic pain and brain trauma, using its bioinformatics platform, PsyCollage.