Mycrodose Therapeutics Successfully Completes Oversubscribed Private Placement
- Mycrodose Therapeutics successfully closes oversubscribed seven-figure financing round.
- Financing was funded by multiple high profile institutional investors, VCs, and Psychedelic Funds, including; The Conscious Fund, Negev Capital, Ambria Capital, K2 & Associates, Empath Ventures, Supernode, Receptor Fund, and many high profiles Silicon Valley Executives.
- Mycrodose Therapeutics is widely recognized as the first company to bring Advanced Drug Delivery Technologies (ADD) into the Psychedelic Medicine Sector.
- Mycrodose is one of only a few private companies that has been granted a Schedule I License and been approved by the United States Drug Enforcement Agency (DEA), State of California Attorney General's Research Advisory Board, and The US Food & Drug Administration (FDA) to research four (4) psychedelic compounds: psilocybin, LSD, MDMA, and DMT.
San Diego, California--(Newsfile Corp. - September 21, 2021) - Mycrodose Therapeutics, a US pharmaceutical company focused on developing advanced drug delivery systems for use with psychedelic compounds, announced today the company has successfully completed an oversubscribed Seed Round. Proceeds from the financing will be used to expand the company's growing patent portfolio of advanced drug delivery systems and to fund the company's aggressive R&D milestones and preclinical initiatives on their IP-Protected transdermal & oral mucosa advanced drug delivery systems.
The company successfully closed an oversubscribed seven-figure financing round by issuing a convertible note at 8% interest to all investors. The Seed Round investment has been filled by the industry's largest and most credible institutional investors including, The Conscious Fund, Ambria Capital, Negev Capital, K2 & Associates, Empath Ventures, Supernode, Receptor Fund, and a number of high profile high net worth Silicon Valley Executives.
"The confidence shown by investors regarding the execution capabilities of our Executive team and regarding our core technologies is humbling. The overwhelming interest to invest in our company from many of the largest and most experienced institutional investors in the Pharmaceutical and Psychedelic Sector has enabled Mycrodose to expand our original fundraising goal and strategically diversify our investor network," said Chad Conner, Mycrodose Therapeutics' Chief Executive Officer. "We believe that these powerful psychedelic drug compounds need to be delivered to patients in the safest and most effective method possible to minimize the potential dangers and side effects of administering an improper or unknown dosage. The many decades of experience that our team has in developing advanced drug delivery systems within the broader Pharmaceutical Industry continues to create a dominant footprint for Mycrodose in the delivery of drugs within the Psychedelic Sector."
Mycrodose Therapeutics is widely recognized as the first company to bring Advanced Drug Delivery Technologies (ADD) into the Psychedelic Medicine Sector. Their core team has over thirty years of experience developing advanced drug delivery systems using Schedule I pharmaceutical compounds within the difficult to navigate FDA clinical environment. The company is in parallel development of two of its four core technologies; a psilocybin transdermal delivery system for treating multiple mental health indications, as well as a Ketamine oral mucosa delivery system for treatment of the oral cancer related condition known as Mucositis and other mental health indications.
The company recently completed the expansion of their state-of-the-art San Diego laboratory, which has the instrumentation needed to quantify and analyze nearly every active pharmaceutical ingredient (API) down to the millionth of a gram and determine all physicochemical parameters critical for the successful and optimum delivery of an API. The company's core drug delivery systems each consist of various proprietary blends uniquely tailored to a specific API, including; ketamine, psilocybin, MDMA, LSD, DMT, and other compounds that improve the efficacy and stability of the final products.
Mycrodose Therapeutics believes that its IP-Protected Sustained Microdosing Technology™ is a smarter and safer approach to delivering pharmaceutical compounds to patients of all ages and allows for an expandable and scalable business model.
Henri Sant-Cassia, Founding Partner, The Conscious Fund
"Mycrodose is leading the evolution of drug delivery in psychedelic medicine. We are delighted to be helping their impressive team to build a company with importance to the entire sector. Their expertise and track record in creating successful exits set them apart. Ultimately, we believe their work will improve patient experiences and outcomes."
Cody Shandraw, Director for Ambria Capital, LLC
"Mycrodose Therapeutics has everything we look for when making an investment; skilled business planning with accretive targets, a robust technology portfolio and a well-established management team. We are witnessing the evolution of the healthcare/psychedelic sector and we believe Mycrodose with their proprietary intellectual property is one of the companies leading the change. By working with the executive team at Mycrodose we've been able to make another meaningful investment into the future of psychedelic medicines, there's a positive outlook for the year ahead and it's been a great start to the year for the company."
Ken Belotsky, Partner, Negev Capital
''Negev capital is delighted to support Mycrodose Therapeutics as they enter a new phase of development. We have invested in Mycrodose based on their impressive team, strategic vision, and tangible assets in drug delivery technology and processes…We expect the value of Mycrodose Therapeutics to increase substantially as this excellent team guides the development of innovative delivery technologies...''
Brom Rector, Founder, Empath Ventures
"Mycrodose Therapeutics has a proven team solving real problems in the psychedelics space - what more could an investor ask for? Mycrodose's advanced psychedelic drug delivery technology has the potential to improve the patient experience, increase safety, and treat new indications. I'm grateful for the opportunity to support Mycrodose in their mission and look forward to seeing how their products impact the world of psychedelic medicine."
Zack Sherman, General Partner, Receptor Fund
"Amid the excitement for the future of psychedelics, the importance of drug delivery is often overlooked. Advanced technologies, such as Mycrodose's Sustained Release Ketamine Lozenge, will play a critical role in overcoming key challenges with respect to the bioavailability, dose selection and therapeutic value of psychedelic medicines."
Jenny Friedman, Managing Partner, Supernode Ventures
"Mycrodose is in a unique position to develop advanced drug delivery technologies within the psychedelic industry. We are especially thrilled to be supporting this team of veterans focused on harnessing the safety and broadening the reach of sustained microdosing technology to children, elderly folks, and others."
About Mycrodose Therapeutics
Mycrodose Therapeutics is a US-Based pharmaceutical company headquartered in San Diego, California specializing in the development of advanced drug delivery systems utilizing psychedelic compounds to treat mental health and cognitive degenerative diseases. Mycrodose is one of only a few private companies that has been granted a Schedule I License and been approved by the United States Drug Enforcement Agency (DEA), State of California Attorney General's Research Advisory Board, and The US Food & Drug Administration (FDA) to research four (4) psychedelic compounds: psilocybin, LSD, MDMA, and DMT. The company believes that its IP-Protected Sustained Microdosing Technology™ is a smarter and safer approach to delivering pharmaceutical compounds to patients of all ages and allows for an expandable and scalable business model.
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