Investment Firm, Coinvest Capital, Support Psylink's Cutting-Edge Biotechnology Approach for Mental Health Care
In a significant stride towards sustainable mental health innovation, Lithuanian startup Psylink has successfully secured over €500,000 in a pre-seed funding round. The round was led by venture capital fund Coinvest Capital, along with a syndicate of angel investors, including Erin Gainer and Sandra Golbreich [1][3][4][5].
Psylink is a deep-tech biotechnology company that is bridging traditional wisdom and modern neuroscience to develop next-generation psychedelic derivatives. The company's focus is on patients who do not respond to conventional therapies, targeting mental health disorders such as depression and PTSD [3][5].
The startup's strategy centers on a sustainable biotechnology platform that uses engineered yeast cells as biosynthetic "mini-factories" to produce natural, fungi-derived compounds. This scalable, cost-efficient method provides an environmentally friendly alternative to traditional chemical synthesis and extraction, making their process eco-conscious and sustainable [3][5].
Viktorija Trimbel, Managing Director of Coinvest Capital, noted her recognition of the urgency and potential of Psylink's work, while Erin Gainer, who leads the angel investor syndicate, expressed her desire to help bring these much-needed therapies closer to those who need them most [3][5]. Sandra Golbreich, Partner at BSV Ventures, considers Psylink a rare example of deep-tech innovation from the region and is proud to support a team developing real biotech with the potential to transform how we treat mental health [3].
The capital raised will be used to advance Psylink's proprietary biotechnology platform for the sustainable production of plant- and fungi-derived compounds. The funds will also fuel the screening and evaluation of novel molecular candidates, as well as the discovery and evaluation of novel therapeutic compounds for conditions such as depression and PTSD [1][3][4][5].
Laura Korsakova, Psylink's CEO, emphasized the company’s mission to help those unresponsive to conventional treatments by leveraging the therapeutic potential of plant- and fungi-based compounds. According to Erin Gainer, these efforts could significantly transform treatment possibilities for individuals dealing with mental health issues [3][5].
Firstpick and BSV Ventures also joined the round, further validating Psylink's innovative approach and potential to revolutionize the mental healthcare market. With this funding, Psylink is well-positioned to continue its research and development, bringing us one step closer to sustainable, effective, and science-driven treatments for mental health disorders.
- The capital raised for Psylink will be utilized to advance their biotechnology platform, screening new molecular candidates, and discovering novel therapeutic compounds for mental health disorders like depression and PTSD, showcasing the potential of science-driven health-and-wellness therapies and treatments.
- As a deep-tech biotechnology company, Psylink is bridging traditional wisdom and modern neuroscience, focusing on patients who do not respond to conventional treatments and using engineered yeast cells to produce sustainable psychedelic derivatives, thereby contributing to technological advancements in mental-health care.
