Gilgamesh Pharma Raises $60M to Fund Its Remaining Neuropsychiatric Assets

NEW YORK – Gilgamesh Pharma, the clinical-stage neuroscience company formed last year after AbbVie acquired its predecessor’s lead psychedelic-derived program, announced it had completed an oversubscribed $60 million Series A financing.

The round was led by Satori Neuro and included participation from Prime Movers Lab, which backed earlier rounds of the original Gilgamesh Pharmaceuticals, along with other new and returning institutional investors. The proceeds will advance the company’s pipeline of proprietary neuropsychiatric candidates and expand its discovery platform. All programs are new chemical entities protected by composition-of-matter patents.

Gilgamesh Pharma inherited its current assets from the 2025 AbbVie transaction, which acquired the $1.2 billion bretisilocin program [a short-acting 5-HT2A agonist for major depressive disorder (MDD)] while leaving behind the rest of the team, certain capital, and an existing neuroplastogen collaboration. The new entity is led by the same management team, including founder and CEO Dr. Jonathan Sporn.

The lead asset, Blixeprodil (GM-1020), is an orally dosed, non-competitive NMDA receptor antagonist designed for rapid onset in MDD with reduced dissociative side effects. The company reported positive Phase 2 data showing statistically significant and clinically meaningful improvements, and it plans to move the program into late-stage trials this year.

Also, in the clinic-bound pipeline is GM-3009, a cardio-safe ibogaine analog aimed at opioid use disorder (OUD) and related indications, which is scheduled to enter Phase 1 studies later in 2026. The company continues to work with AbbVie on non-hallucinogenic neuroplastogens for depression and anxiety under the 2024 collaboration.

In a statement, Sporn said the fresh capital will allow the team to move multiple programs forward in parallel while scaling its discovery efforts. Amy Kruse, general partner and chief investment officer at Satori Neuro, noted the company’s focus on science that could change treatment standards for difficult mental health conditions.

The announcement comes at a moment when investor interest in refined, patent-protected molecules for psychiatry remains steady, even after several high-profile deals between emerging biotechs and established pharmaceutical companies. For the psychedelics sector, Gilgamesh Pharma’s post-spinout raise illustrates how capital continues to support next-generation candidates that draw on lessons from classic compounds while addressing practical hurdles like dosing convenience, safety profiles, and regulatory pathways. As the field matures, these targeted financings help sustain innovation in areas where large-scale acquisitions have already taken place.