Woven Science Launches Psychedelic Care Platform With $8.5M Seed Financing
NEW YORK–Renewed scientific interest in psychedelic medicine is generating a deeper understanding of the pharmacologic substances and practices that humans have long used for ceremonial, therapeutic and cultural purposes.
“We’re excited by the potential for psychedelics to be used therapeutically to help heal an enormous number of people,” says CEO and Co-Founder, Nick von Christierson. “But, we also believe that there is no magic pill – long term mental health outcomes need to be sustained by wellness practices and access to community more broadly.”
Woven Science’s vision imbeds psychedelic models of care across the entire treatment arc, and funds raised will go towards building out its operating pillars of Compounds, Clinics and Community.
Woven Science’s Compounds portfolio comprises a diversity of assets targeting different indications. Already, the Company’s portfolio reaches across the US, Canada, Switzerland and the UK, and has exposure to five different compounds, collectively addressing seven specific mental health and CNS indications. The Company recently co-led a $4.1M investment round into Reconnect Labs AG, a Swiss drug development company taking a combination product of harmine and DMT through clinical trials.
To launch the Clinics pillar, the Company has partnered with a leading team of MAPS-trained therapists in Portland, Oregon to open urban and wilderness clinics for psychedelic-assisted therapies.
The Community pillar is a direct-to-consumer platform focused on the programs and products that support long-term well being. It comprises The Fifth Kingdom, a subsidiary merging market-leading botany dispensary The Alchemist’s Kitchen, nutraceuticals developer Torii Labs and The Medicinal Mushroom Co.
Woven Science is founded by Nick von Christierson, Giles Hayward and Lou Sagar, proven entrepreneurs with personal experience on the impact psychedelic therapies can have on wellbeing. The Company is supported by a strong executive team (Riwa Harfoush and William Usdin), an exceptional advisory board (Adam Horowitz, Dennis McKenna, and Merlin Sheldrake among others), a Council of Indigenous Elders, and a network of aligned investors and partners to deliver on the vision.
Woven Science has a strong alliance with its lead investor and venture partner Noetic Psychedelic Fund, the largest investor in the industry. Sa’ad Shah, Managing Partner of Noetic, states, “Psychedelics used in the context of mental health represent one of the biggest investment opportunities in the coming decade and Woven Science’s thoughtful and strategic approach is what really excites us as we strive to shift the focus from effectively treating mental illness to sustaining mental wellness.”
Advisory Board member and investor Adam Horowitz notes that, “With Woven Science, we know that there is a stewardship of capital that not only puts healing at the center of the treatment arc, but ensures indigenous representation has a very real seat at the table. This is the kind of model we need to see across the industry and Woven Science is setting a precedent going forward.”
(This information is primarily sourced from Woven. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).
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