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Paradromics Raises $20MM in Seed Funding Led by Prime Movers Lab to Advance Brain Computer Interfaces
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Neuralink competitor raises US$20M for brain implants
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Gilgamesh Pharmaceuticals, a biotechnology company that uses psychedelic-related drugs to treat neuropsychiatric disorders, reported Thursday it has raised $27 million in a Series A funding round led by Prime Movers Lab.
Other investors involved in the round included the Noetic Psychedelic Fund LP, Gron Ventures, Route 66 Ventures, JLS Fund and Palo Santo Investors.
Prime Movers Lab, a partnership that invests in breakthrough scientific startups, is known for raising funds for inventors in energy, transportation, infrastructure, manufacturing, human augmentation, and agriculture.
With the newly raised capital, New York-based Gilgamesh plans to add more members to its team, including a COO, head of R&D and CBO. It will also work on advancing its programs toward clinical candidate selection and broadening its IP portfolio.
Prime Movers Lab Expands Life Sciences Practice
Portfolio of companies Prime Movers Lab supports already working to end the pandemic, accelerate cures for diseases of aging and help stroke patients recover
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JACKSON, Wyo., Feb. 16, 2021 /PRNewswire/ Prime Movers Lab – an investor in breakthrough scientific startups that will revolutionize the world s most important industries and transform billions of lives – today announced that it is expanding its efforts in the life sciences and has added new partners with deep expertise in biology, longevity and neuroscience.
Three new Prime Movers Lab partners, Caleb Bell, PhD, Amy Kruse, PhD, and Jyothi Devakumar, PhD bring varied experience across multiple verticals including biotech, food, neuroscience and longevity medicine. These new partners are complemented by longtime members of Prime Movers scientific advisory board, who include Robert Booth, PhD, a former member of Roch
Prime Movers Lab raises $245 million for second fund to invest in early stage science startups
After revealing its first fund just last year, a $100 million pool of investment capital dedicated to early stage startups focusing on sustainable food development, clean energy, health innovation and new space technologies, Prime Movers Lab is back with a second fund. Prime Movers Lab Fund II is larger, with $245 million committed, but it will pursue the same investment strategy, albeit with a plan to place more bets on more companies, with an expanded investment team to help manage the funds and portfolio.
“There are a lot of VCs out there,” explained founder and general partner Dakin Sloss about the concept behind the fund. “But there aren’t many VCs that are focused exclusively on breakthrough science, or deep tech. Even though there are a couple, when you look at the proportion of capital, I think it’s something like less than 10% of capital is going to these types of compa
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