TORONTO, ON / ACCESSWIRE / December 9, 2021 / Noetic Fund led the Seed round for the Alexander Shulgin Research Institute Inc. ("ASRI"), a psychedelic drug discovery company focused on the design, chemical synthesis, and pharmacological evaluation of novel compounds, as well as characterization of compounds from the Shulgin Vault, which contains hundreds of compounds created by Sasha Shulgin before his passing. The total Seed financing round completed at $7.2 million.
Noetic was founded in early 2020 by veteran investors with the professional background, experience, and network required to navigate the nascent psychedelic sector and to foster immense growth by backing compelling science and talented entreprenuers.
Noetic is committed to investing in the development of pure, innovative and sustainable products and services in the emerging market of bioavailable psychedelic plants. It has to date, supported 6 companies to go public from their Fund I initiative.
The Alexander Shulgin Research Institute Inc. ("ASRI") is a psychedelics discovery, development, and educational organization dedicated to continuing and extending the work of Dr Alexander "Sasha" Shulgin. The Institute was informally founded by Dr. Shulgin in the 1980s to spotlight his research. After his passing in 2014, his research colleagues Paul F. Daley, Ph.D., and Nicholas V. Cozzi, Ph.D. adopted leadership roles at the Institute. ASRI has since synthesized and supplied compounds for basic chemical, pharmacological, and clinical studies at universities and research organizations around the world, including recent FDA-approved clinical research with psilocybin and DMT. The ASRI was formally incorporated by Daley, Cozzi, and Shulgin's widow and ASRI co-founder, Ann Shulgin, on April 19, 2021.
"Noetic is proud to support the continued legacy of Sasha Shulgin's years of research and drug development with phenylalkylamines, tryptamines, lysergamides, isoquinolines, and cathinones. We couldn't be more excited to partner with two of the leading scientists and thought leaders in this space, namely Paul Daley and Nicholas Cozzi - who will lead the efforts at ASRI" said Warren Wright, co-founder and managing partner of the Noetic Fund.
"The Noetic team and ASRI share the view, as expressed by Sasha Shulgin himself, that psychedelic substances have inherent value both as tools for scientific discovery and as therapeutic agents", says Dr. Cozzi. "The mutual enthusiasm, respect, and professionalism exhibited by Noetic and ASRI throughout the fund raising process have given us confidence that it is possible to form healthy partnerships between financial investors and research scientists to accelerate progress in the psychedelic space. ASRI seeks to promote the public good through a commitment to scientific excellence and high ethical standards, as befitting an institution which carries Sasha Shulgin's name. ASRI is grateful for the financial support provided by Noetic. This support is vital for the establishment of the modern Shulgin Research Laboratory."
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SOURCE: Noetic Fund II LP