First subject dosed in Beckley Psytech’s psilocybin trial for rare headache disorder
$80M raised to study a condition you’ve never heard of
Beckley Psytech completes oversubscribed $80m (£58m) fundraise to develop portfolio of psychedelic medicine breakthroughs
A private company based in England called Beckley Psytech raised $80M in a Series B financing round, exceeding the $50M target due to overwhelming interest from investors.
The funds will be used to study low doses of psilocybin in patients with a rare headache condition called short-lasting unilateral neuralgiform headache attacks (SUNHA), which affects just 45,000 people in the US and Europe. The Phase 1b study is already underway at King’s College London.
The proceeds will also be used to develop new proprietary compounds, and to study the company’s novel formulation of 5-MeO-DMT, a psychedelic compound found in toad venom, in treating depression.
One dose of psilocybin eases migraines in recent study
A single dose of psilocybin has a lasting therapeutic effect on migraine headache, according to a new placebo-controlled study
A double-blind, placebo-controlled study found that a single low dosage of psilocybin effectively reduced the severity of migraine pain and functional impairments in participants with frequent migraines. Participants reported that the therapeutic effect lasted for at least two weeks with no adverse side effects, supporting years of anecdotal reports that psilocybin eases migraine symptoms.