Transcend Therapeutics has raised a $40M Series A funding round to develop drugs that help patients with neuropsychiatric diseases.
The company's team includes the first scientist to receive federal funding for clinical psychedelic research in over 50 years.
The company claims that its lead product has helped more than 85% of patients with PTSD and depression.
- Alpha Wave Global and Integrated Investment Partners led the round, with participation from Global Founders Capital and Emerald Investment Managers, among others
- Since its inception in 2021, the company has raised $42M.
- Transcend Therapeutics is based in New York.
- The company has pledged 10% of its founding shares toward scientific nonprofits.
