TORONTO, ON / ACCESSWIRE / September 8, 2021 / Noetic Fund II Cayman Master, LP ("Noetic Fund II") has invested the majority of CaaMTech Inc.'s oversubscribed US$22 million Series A financing round to help advance the company's compounds from its library into human clinical trials.
CaaMTech was founded in 2017 to fill the unmet need for pure, well-characterized psychedelic drugs. Since then, the company has produced an extensive library of novel, analytically pure compounds that are ready for advancement into human trials.
"The team at CaaMTech are deepening our understanding of the fundamental science behind psychedelics, while applying innovative technologies to better characterize and develop large areas of the field that remain understudied", said Sa'ad Shah, co-founder and managing partner of the Noetic Fund.
"Noetic is the ideal partner for CaaMTech because we share the value and importance of fundamental science," said Dr. Andrew Chadeayne, CEO of CaaMTech. "Noetic subscribes to CaaMTech's vision that meaningful drug development first requires knowing what the drug is."
CaaMTech has led the psychedelics industry in fundamental research, publishing tens of peer-reviewed scientific research publications. Through collaborations with the NIH's Designer Drug Research Unit at the National Institute on Drug Abuse, the University of Massachusetts Dartmouth, and The Leibniz Institute for Natural Product Research, CaaMTech has built a cross-disciplinary team of world-class scientists, providing diverse subject matter expertise and a shared goal to advance the state of the art of the psychedelic industry.
"This is a milestone investment for Noetic Fund II and we look forward to continuing to support CaaMTech's impressive pipeline and industry leading science program" said Warren Wright, co-founder and managing partner of the Noetic Fund.
Noetic is a group of venture funds launched by Grey House Partners GP Inc. to invest in emerging and early-stage psychedelic and Central Nervous System companies, addressing global unmet healthcare needs such as mental health conditions, substance use disorders, and distinct inflammatory-related ailments. Noetic has built a team with the deep domain expertise required to appraise opportunities in this nascent sector: from neuroscience and pharmacology through to regulatory pathways and health economics. The firm is committed to scaling the disruptive potential of psychedelics in a responsible manner, with a core mission of supporting the development of innovative technologies that help define a healthy future for people and the planet.
CaaMTech is the foremost drug discovery and lead optimization company focused on engineering psychedelic drugs that meet the standards of modern medicine. CaaMTech is improving the health and happiness of humankind by creating and optimizing psychedelic compounds and formulations through rigorous science and continuous innovation.
Media Contacts @ Noetic:
Michael McLachlan Franks
Media Contact @ CaaMTech:
SOURCE: Noetic Fund II