Lithuanian Psylink Secures €500k for Mental Health BioTech

Vilnius-based Psylink secured over €500k in a pre-Seed funding round led by Coinvest Capital. This investment will advance the mental health biotech platform's innovation.

Founded in 2020, Psylink develops science-based therapies for mental health disorders. Its R&D strategy focuses on two pillars. Firstly, it builds a sustainable biotechnology platform producing fungi-derived compounds using engineered yeast cells. This method, furthermore, offers an environmentally friendly alternative to traditional synthesis.

Additionally, Psylink evaluates novel compounds for conditions like depression and PTSD. It studies psilocybin and fungal metabolites to uncover new therapeutic agents. Consequently, the company will use the new capital to advance its proprietary platform. This funding also fuels screening and evaluation of molecular candidates.

Advancing BioTech for Mental Health

Psylink addresses a critical gap in mental healthcare. Many patients do not respond to conventional therapies; an estimated 30-40% with depression see minimal benefit from standard antidepressants. Therefore, demand exists for more effective, science-driven alternatives.

The company aims to redefine mental health treatment. This deeptech innovation positions Psylink alongside companies like Compass Pathways and Atai Life Sciences. Ultimately, it leverages biotechnology to develop novel solutions for mental healthcare.