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Pharma Tech Outlook | Tuesday, September 21, 2021
CaaMTech will use the funds to progress products from its library into clinical trials.
FREMONT, CA: CaaMTech, Inc. has raised $22 million in Series A round sponsored by Noetic Fund. CaaMTech will use the oversubscribed money to strengthen its industry-leading cross-disciplinary science program, expand its leadership team, and accelerate its most promising drug development prospects into human trials.
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"This Series A investment further substantiates our hypothesis that the future of the psychedelics industry depends on the strength of its foundation," said CaaMTech founder and CEO Dr. Andrew Chadeayne. "Now that we have built that foundation, we are grateful to partner with Noetic for the next steps. Their industry leadership and experienced team make Noetic the optimal partner to help shepherd these drugs to the patients who need them most."
"CaaMTech's extensive patent library, scientific and research-laden focus, coupled with their impressive leadership team and an unwavering commitment to pursuing drug development within the psychedelic industry make them one of the most formidable companies in this space," said Sa'ad Shah, co-founder and managing partner of the Noetic Fund. "We could not be more excited about our support and investment in CaaMTech."
CaaMTech has pioneered foundational research in the psychedelics sector, producing dozens of peer-reviewed scientific research papers. 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 through collaborations with the NIH's Designer Drug Research Unit, the University of Massachusetts Dartmouth, and The Leibniz Institute for Natural Product Research. CaaMTech will maintain its commitment to fundamental scientific research through continuous academic partnership while also moving individual therapeutic candidates closer to the clinic, thanks to the successful conclusion of Series A fundraising.
CaaMTech was created in 2017 to address a gap in the market for pure, well-studied psychedelic substances. Since then, the business has developed an extensive library of unique, analytically pure substances that are on the verge of being tested in humans.
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