Psylink — developing a new generation of therapeutic treatments with our planet in mind

The world is witnessing a paradigm shift in mental health treatment as more and more research on the benefits of psychedelic substances emerges. FIRSTPICK accelerator participants are ready to pioneer this area in the region by offering sustainable and cost-efficient psychedelic compound production solutions. What is their plan while waiting for these compounds' official approval and enrolment? Learn by reading our recent interview.

Hey there, tell us about?Psylink, please!

Psylink is a biotechnology company developing a?biosynthesis platform that?outperforms current alternative production methods, ensuring green, sustainable, easy-scalable, and cost-efficient production of psychedelic compounds. This versatile platform allows greater opportunities to develop next-generation compounds with great therapeutic potential.

What problem do you want to solve with Psylink?

We have identified a crucial gap in the sustainable and eco-friendly supply chain for psychedelics. Drawing on the biotech and pharmaceutical expertise of our co-founders, we aim to contribute to the development of eco-conscious avenues for psychedelic research. By addressing sustainability in the production and distribution of psychedelics, we strive to ensure that these substances are explored and utilized responsibly, minimizing their environmental impact.

Through our work, we aim to bring together the benefits of psychedelics and a commitment to ecological sustainability, driving positive change in mental healthcare and the field of psychedelic research.

How would you describe your competitive landscape?

The psychedelic sector encompasses a diverse range of activities within the value chain, with companies specializing in various areas. The key focus areas within the sector are as follows:

Drug?discovery: This category involves companies engaged in the identification of molecules that hold therapeutic potential for treating specific diseases. They explore and study the effects of these molecules to determine their suitability for medical applications. Additionally, companies involved in drug development work on the process of bringing these new drugs to market.

Manufacturing &?synthesis: This category involves companies that specialize in the production and synthesis of psychedelic substances. They ensure the manufacturing process's quality, consistency, and scalability to meet the demand for psychedelic medicines and therapies. Psylink currently falls within both categories: drug discovery and manufacturing/synthesis.

How?has?your journey?been?so far?

Our story began in 2020, during the global pandemic, which witnessed a significant increase in mental health disorder cases worldwide. With approximately 800 million people suffering from some form of mental health disorder and these numbers continuing to rise, we recognize the pressing need for innovative approaches to address this crisis. Psychedelics can potentially disrupt existing treatment models, and Psylink aims to be at the forefront of this transformative shift in psychiatry.

What are your main achievements so far?

Based in the Baltics, we have been licensed to work with Schedule I substances for research purposes since October 2021. We previously raised from angel investors in a pre-seed round.

What are your plans for the next year?

Psylink aims to become a leading pharmaceutical-grade psychedelics provider in Europe and unlock these powerful molecules for researchers and clinicians to help patients with unmet needs. The growth strategy is based on recurring sales to partners and ensuring the supply chain to research institutions,?clinical research centers, and?pharma companies.

The team?plans?to enter the Seed round to expand its R&D team, form strategic alliance partnerships with research institutions in 6 new European countries, and boost drug research programs on psychedelics for various indications. The seed round will go towards:

• finalizing GMP-grade biosynthetic psilocybin;
• expanding the pipeline of biosynthetic classic and next-generation psychedelics;
• and?expanding the team and infrastructure for R&D activities.

Visit?Psylink’s?website?to?get to know them better, and don’t forget to follow the team on?Linkedin?for updates.

Or speak to the team directly about collaborating with them: [email protected]?

Learn more about FIRSTPICK’s accelerator?here.