Japanese Pharma Company Sponsors Australian Start Up In Development Of Non-Hallucinogenic Medicines

Australia biotech startup Psylo has inked a sponsored research agreement with global Japanese pharmaceutical company Daiichi Sankyo DSNKY toward advancing antidepressant psychiatric medicines.

See also: Building Australia's Psychedelics Industry: A New Joint Venture And Why It's Important

Psylo will use its expertise in neuropsychiatric therapies together with Daiichi Sankyo's experience in drug discovery and clinical development to advance R&D of potential novel chronic mental illness treatments, establishing an office at the B+labs incubation space in Philadelphia.

Psylo CSO Sam Banister says that to have the guiding hand of Daiichi Sankyo, “a world leader in pharmaceutical development,” as the company pushes through the next “critical” development stage “will prove invaluable” in translating its R&D efforts into early clinical development.

Psylo CEO Josh Ismin affirmed that the sponsorship represents a step forward in the company’s efforts “to harness the therapeutic potential of compounds to address mental health challenges."

B+labs director Matthew Burkhardt welcomed the company to its incubation space and echoed the excitement to support its R&D efforts. 

“This sponsorship exemplifies our commitment to fostering innovation and driving advancements in the life sciences," Burkhardt added.

See also: Psychedelic Science 101: Dr. Huberman Calls On Academics To Have 'The Guts To Take On Something Risky'

Photo: Benzinga edit with photo by geralt and sergeitokmakov on Pixabay.