Psilera Raises $2.5 Million With Oversubscribed Series Seed From Leading Institutional Investors To Accelerate Clinical Pipeline Focused On DMT

Psilera Inc., formerly Psilera Bioscience (Psilera), a Florida-based biotechnology company specializing in the clinical development of psychedelics and analogues, has secured $2,500,000 in a non-brokered series of seed preferred funding (the “Financing”). The influx of funding was led by Iter Investments with participation from Baird Inc., JLS Fund, Receptor, What If Ventures, as well as the company’s Founders and Board of Directors.

The Financing was raised through issuance of 4,354,633 shares of series seed preferred shares at a cost basis of $0.57 per share for total proceeds of $2,500,000 and . . .