Vilnius-based biotech firm Psylink, which develops targeted, nature-inspired psychedelic therapies using synthetic biology to treat treatment-resistant mental health disorders like depression and PTSD, has secured €500,000 in a pre-seed round led by Coinvest Capital.
- Launched in 2020 by Evaldas Ciplys and Laura Korsakova, Psylink genetically engineers yeast cells to replicate natural biosynthetic pathways for producing plant- and fungi-derived psychedelic compounds.
- The yeast fermentation process enables scalable, high-density production of target molecules such as psilocybin, DMT, LSD, and mescaline, offering a consistent and sustainable alternative to extraction and chemical synthesis.
- The platform supports GMP-compliant manufacturing and focuses on producing compounds for mental health research, particularly targeting treatment-resistant conditions like depression and PTSD.
- Psylink’s work includes developing both classic psychedelics and novel derivatives with specific receptor activity, alongside collaborations with research institutions to advance clinical applications.
Details of the deal
- The pre-seed round was led by Vilnius-based VC firm Coinvest Capital, with participation from FIRSTPICK, BSV Ventures, and several business angels.
“Psylink is a rare example of deep‑tech innovation from our region, tackling a global challenge with scientific clarity and purpose. We’re proud to support a team developing real biotech with transformative potential," claims Sandra Golbreich, GP at BSV Ventures.
- The firm will use the fresh capital to advance its proprietary biotechnology platform for the sustainable production of plant- and fungi-derived compounds, as well as to accelerate the screening and evaluation of novel molecular candidates for further development and preclinical validation.
