Magic mushrooms and 'toad venom' get this British biotech an oversubscribed Series B
A new psychedelics player burst onto the scene Monday with a hefty Series B, aiming to refashion two well-known drugs into therapies for crippling headaches and treatment-resistant depression.
Beckley Psytech netted $80 million to push forward its psilocybin and “toad venom” programs. In 2019, the Oxford, UK biotech spun out of the Beckley Foundation, a British think tank lobbying for global drug policy reform. The company had initially set out to raise $50 million for the round.
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