Beckley Psytech raised £14 million from Noetic Psychedelic Fund and Bail Capital

Beckley Psytech, an Oxford, UK pharma startup, announced that it raised £14 million ($18.9M)

The money was raised from investors including Noetic Psychedelic Fund and Bail Capital, who are joining existing investors Jim Mellon and Richard Reed.

The proceeds will be used to amp up the drug development pipeline, specifically exploring the use of 5-MeO-DMT, a synthetic substance that could treat neuropsychiatric diseases.  The company is preparing to begin its Phase 1 clinical trial – a ground-breaking regulatory standard clinical trial on 5-MeO-DMT.

Beckley Psytech has a Scienctific Advisory Board which includes Dr. Robin Carhart-Harris from Imperial College London, Prof. Matthew Johnson from Johns Hopkins University and Prof. Guy Goodwin from the University of Oxford.

Beckley Psytech was founded in 2019 as a spin-out of the Beckley Foundation by psychedelic researcher Lady Amanda Feilding and CEO Cosmo Feilding Mellen. The company is dedicated to helping patients suffering from neurological and psychiatric disorders by developing a pipeline of psychedelic compounds into licensed pharmaceutical medicines. 

Beckley Psytech previously raised £3 million in May of 2020.