Octarine Bio
Octarine Bio is a Danish synthetic biology company producing psilocybin and other neuroactive compounds via proprietary yeast fermentation. Founded in Copenhagen, the company raised $11M from 13 investors including DSM-Firmenich and has partnered with Clerkenwell Health to supply GMP psilocybin for clinical trials. Octarine Bio's platform is based on engineering yeast to express the biosynthetic pathway for psilocybin and related alkaloids.
Development Programmes
1Biosynthetic Psilocybin (Fermentation Platform)
Psilocybin and novel tryptamine derivatives produced via precision fermentation in engineered Saccharomyces cerevisiae (yeast). Platform achieves 627±140 mg/L psilocybin production — claimed 1,000x cost advantage over mushroom extraction or chemical synthesis. Can produce novel-to-nature derivatives by gene swapping (e.g., psilocybin-melatonin hybrid). Foundational paper: Milne et al. 2020, Metabolic Engineering. PROGRAMME DEPRIORITIZED — company pivoted to sustainable pigments (PurePalette) circa 2022. Clerkenwell Health CRO partnership (Sep 2021) produced zero clinical trials. All funding since 2022 directed to pigments business. Psychedelic IP may be available for licensing.
Programme Tracker
Major Depressive Disorder (MDD)
DORMANT. Clerkenwell Health CRO partnership (Sep 2021) was intended to pursue UK MHRA pathway. No IND/CTA filed, no trials registered, no clinical data generated. Company pivoted to PurePalette sustainable pigments circa 2022. SAB psychedelic expertise (Prof. Jo Neill, Manchester) appears vestigial. EUR 12.8M Series A (Jan 2026) entirely for pigments.
Milestones
data-readout
CompletedActual: Mar 1, 2020
Foundational paper published in Metabolic Engineering: "Metabolic engineering of Saccharomyces cerevisiae for the de novo production of psilocybin and related tryptamine derivatives." Demonstrated 627±140 mg/L psilocybin production from glucose via engineered yeast.
Why it matters: Proved fermentation-based psilocybin production is viable at pharmaceutical scale. 1,000x claimed cost advantage over mushroom extraction. Also demonstrated production of psilocin, norbaeocystin, baeocystin, and aeruginascin — a full tryptamine toolkit.
Funding milestone
CompletedActual: Nov 1, 2020
$1.8M seed round closed. Led by Vaekstfonden (Danish State Growth Fund) with Enexis AB, Oskare Capital, and Bruce Linton. Extended by $1.2M in H1 2021 (total $3.2M seed).
Why it matters: Bruce Linton (Canopy Growth co-founder) involvement signalled cross-pollination between cannabis and psychedelic biotech. Vaekstfonden backing validated Danish synbio ecosystem.
partnership
CompletedActual: Sep 1, 2021
Clinical development partnership announced with Clerkenwell Health (UK psychedelic CRO) to bring biosynthetic psilocybin to patients via MHRA pathway. SAB expanded with psychopharmacology expertise (Prof. Jo Neill, Manchester).
Why it matters: Partnership was intended to fast-track from fermentation platform to human clinical trials. However, no trials, dosing, or regulatory submissions ever materialised. Partnership appears dormant as of 2022+.
Company milestone
CompletedActual: May 1, 2023
Strategic pivot to sustainable pigments (PurePalette). Ginkgo Bioworks partnership announced for bio-based dyes using the same fermentation platform. All subsequent fundraising (EUR 4.35M Nov 2023, EUR 12.8M Series A Jan 2026) directed to pigments, not psychedelics.
Why it matters: Marks effective end of psychedelic drug development programme. The fermentation technology proved commercially viable but found a more immediate market in sustainable textiles rather than pharmaceutical development. Psychedelic IP remains but is not being actively developed.
Recorded Events
May 1, 2023: Company milestone
Sep 1, 2021: partnership
Nov 1, 2020: Funding milestone
Mar 1, 2020: data-readout
Evidence Links
company-website - Octarine Bio - Verified
Quick Facts
- Type
- Private Biotech
- Lead Stage
- Discovery
- Website
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