+ 0.01
+ 0.01%
+ 0.85
+ 0.53%

Exclusive: Psychedelic Wellness Co. Synthesis Announces $2.75M Seed Round

July 7, 2020 10:08 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Exclusive: Psychedelic Wellness Co. Synthesis Announces $2.75M Seed Round

Synthesis Institute has raised $2.75 million in a seed funding round led by Novamind Ventures.

The psilocybin startup, which has been providing access to safe and legal psychedelic experiences for more than 18 months, is leveraging the funding to further develop what it calls a scientist-backed, data-driven platform.

Synthesis plans to scale capacity and accessibility, evolve treatment protocols, and develop a platform that services the entire psychedelic ecosystem, a company spokesperson said. This will include thousands of clinicians and mental health providers who are eager to integrate psychedelic-assisted therapy into their work.

Synthesis is also well positioned to provide therapists with on-site, experiential training with psilocybin and psychedelic treatment modalities. 

The company's flagship center is located near Amsterdam, where edible truffles containing psilocybin — the same psychedelic compound found in "magic mushrooms" — are legal.

The company already plays a role as a research site and partner for the scientific community, including researchers Dr. Robin Carhart-Harris and Dr. Rosalind Watts of Imperial College London, who are members of the Synthesis Advisory Board.

“Synthesis was an early mover, and is now a leader in an emerging and competitive environment for psychedelic clinics and retreats," Yaron Conforti, CEO of Novamind Ventures, said. "Their approach blends clinical best practices with ancient traditions, resulting in a scalable model for facilitating safe and effective therapeutic psychedelic experiences. Synthesis centers are the psychedelic clinics of the future. We’re excited to support Synthesis in the next phase of their growth.”

As part of the deal, Conforti will join Synthesis’ board of directors.

According to Synthesis CEO Rachel Aidan, the new capital infusion will continue to bring new products and services to market. It will also focus on the safety, “professionalism and transpersonal understanding of psychedelic experiences" to an international community.

“While expanding our offerings, Synthesis will also embrace a stronger emphasis on clinical programming while maintaining the high standards of ethics and transpersonal understanding of these experiences that we have come to stand for,” she said.

Courtesy photo: Synthesis' venue.