Delix Therapeutics Raises $100M for Non-Hallucinatory Psychedelic Depression Therapy
By Dr. Zubair Khalid, DVM, MS, PhD ·
Delix Therapeutics has raised $100 million in a Series C financing round to advance its non-hallucinatory psychedelic therapy for depression. Johnson & Johnson was among the backers of the round. The company plans to use the funds to move the therapy into phase 2 clinical trials.
The treatment is designed to produce antidepressant effects without the hallucinogenic side effects associated with classic psychedelics. Delix’s lead candidate is already phase 2-ready, meaning it has completed early-stage safety and dosing studies.
Context
Psychedelic compounds such as psilocybin have shown promise for treatment-resistant depression, but their hallucinogenic effects require supervised clinical settings and limit widespread adoption. Non-hallucinatory analogues aim to separate the therapeutic benefits from the psychoactive experience, potentially allowing for easier administration and broader patient access. This funding round reflects continued investor interest in next-generation psychiatric drugs that target the same neural pathways as psychedelics while avoiding regulatory and practical hurdles.
Source: original report