Investors have provided $60 million to Gilgamesh Pharma, a New York City-based biotech company, to advance its pipeline of psychedelics and experimental neuroscience treatments. The funding will support testing of compounds that the company has not yet committed to partners.
The investment comes as the psychedelics sector continues to attract significant capital despite regulatory uncertainties. Biotech companies are increasingly exploring psychedelic compounds for treating various neurological and psychiatric conditions, though most remain in early-stage development.