Drug discovery and lead optimization company focused on coming up with psychedelics drugs which treat mental health conditions and other unmet conditions CaamTech Inc. announced having raised $22 million from a recently concluded series A financing round for psychedelics drug discovery and development.
This oversubscribed funding round was led by Noetic Fund. Proceeds from the funding round will be directed towards the company’s drug development formulations into human trials and expand the company’s managerial team.
“This Series A investment further substantiates our hypothesis that the future of the psychedelics industry depends on the strength of its foundation. Now that we have built that foundation, we are grateful to partner with Noetic for the next steps. Their industry leadership and experienced team make Noetic the optimal partner to help shepherd these drugs to the patients who need them most,” said the company’s founder and chief executive, Dr. Andrew Chadeayne.