Preclinical biotechnology company focused on psychedelics therapies on mental illnesses Gilgamesh Pharmaceuticals announced having closed a $27 million Series A financing round. This latest financing round by the company was concluded on May 6.

This Series A financing round was led by Prime Movers Lab, a leading investor in breakthrough scientific startups which is aiming to revolutionize most important industries across the world making it a better place to live.

Gilgamesh will be using proceeds from this financing round to expand its labor force, including adding a Head of R&D & Chief Business Officer and a Chief Operating Officer.

Dr. Jonathan Sporn, the company’s founder and chief executive, said this investment will see the company through the process of developing next generation of psychedelics medicines.

We are happy to partner with our new investors to help position Gilgamesh at the forefront of creating the next generation of medicines. There is a lot of exciting work being done around the research of psychedelic drugs right now. But what differentiates Gilgamesh is that we were founded by individuals who have had previous success and know that the knowledge base and methods that we have is the strongest path forward to develop new drugs,” said the CEO.

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