Psy Therapeutics
Psy Therapeutics is a Cambridge, MA-based drug discovery company developing novel small-molecule NCEs for neuropsychiatric and neurological disorders. Founded around 2019 by MGH psychiatrists Jerry Rosenbaum, Roy Perlis, and Maurizio Fava with Brant Binder, the company applies DNA-encoded library screening (via X-Chem) and validated CNS targets. Pipeline includes PSY-05 (anxiety), PSY-06 (MDD), PSY-02 (dementia/tau aggregation), and programs in Parkinson's and chronic pain. Non-hallucinogenic, psychedelic-inspired CNS approach.
Development Programmes
5PSY-05001 (Non-Opioid Analgesic)
Novel non-opioid, non-addictive small molecule analgesic for subacute and chronic pain, with additional application in PTSD-related sleep disturbance. Undisclosed molecular target. Designed to provide effective pain relief without opioid misuse risk and enable transition from opioid to non-opioid treatment. US composition of matter patent allowed (protection through at least 2042); international patent applications pending. Preclinical efficacy demonstrated in neuropathic, inflammatory, and post-operative pain models.
Programme Tracker
Chronic Pain
IND-enabling studies in progress. Lead optimization completed. Preclinical efficacy confirmed in neuropathic, inflammatory, and post-operative pain models (Mar 2025). US composition of matter patent allowed through 2042. Company raising $10M convertible note to advance into Phase 1 FIH study and enable Series A.
Milestones
ip-milestone
CompletedActual: Jun 1, 2024
US composition of matter patent allowed for PSY-05001 / PSY-05 series with protection through at least 2042. International patent applications pending.
Why it matters: Strong IP protection secures competitive position for the lead program through 2042. Composition of matter patents are the strongest form of pharmaceutical IP.
Funding milestone
CompletedActual: Aug 15, 2024
$12.59M funding round closed. Advances PSY-05001 IND-enabling programme and broader pipeline development.
Why it matters: Largest single raise for the company. Provides runway for IND-enabling studies on lead program while maintaining multi-program pipeline development.
data-readout
CompletedActual: Mar 10, 2025
Preclinical data confirmed: PSY-05001 demonstrates efficacy in neuropathic, inflammatory, and post-operative pain models. Lead optimization completed, IND-enabling studies initiated. Company presents at Virtual Life Science Investor Forum (Mar 13, 2025).
Why it matters: Broad preclinical pain efficacy (three distinct pain models) de-risks translational potential. IND-enabling initiation marks transition from discovery to clinical development track.
Recorded Events
Mar 10, 2025: data-readout
Aug 15, 2024: Funding milestone
Jun 1, 2024: ip-milestone
Evidence Links
company-website - Psy Therapeutics - Verified
PSY-05 (Anxiety / PTSD)
Novel oral small molecule for Generalized Anxiety Disorder (GAD) and PTSD. Undisclosed mechanism. May share chemical series with PSY-05001 (pain candidate) given shared patent estate (US CoM patent through 2042). Entered preclinical development Nov 2021.
Programme Tracker
Anxiety Disorders
Preclinical development. Entered preclinical Nov 2021. Relationship to PSY-05001 unclear — may represent the anxiety/PTSD indication of the same chemical series, with PSY-05001 optimised for pain.
Evidence Links
reference - Synapse / PatSnap - plausible
PSY-01 (Brain-Penetrant COMT Inhibitor)
Novel brain-penetrant COMT (catechol-O-methyltransferase) inhibitor based on non-nitrocatechol scaffold discovered via DNA-encoded library (DEL) screen with X-Chem (200B+ molecule library). Enhances dopamine signaling. Avoids toxicity and poor brain penetration of existing nitrocatechol-based COMT inhibitors (e.g., entacapone, tolcapone). Also being explored for Parkinson's disease. NIMH SBIR Phase I grant ($458,385) awarded 2023 for depression indication. In-vivo biomarker data using touchscreen Probabilistic Reward Task (PRT) model targeted Mar 2025.
Programme Tracker
Major Depressive Disorder (MDD)
Lead optimization. NIMH SBIR Phase I funded ($458,385) — "Development of brain-penetrant COMT inhibitors for the treatment of depressive disorders." In-vivo biomarker data (PRT mouse model) targeted Mar 2025. Novel non-nitrocatechol scaffold from X-Chem DEL screen avoids liver toxicity and poor CNS penetration of existing COMT inhibitors.
Milestones
Funding milestone
CompletedActual: Jun 1, 2023
NIMH SBIR Phase I grant awarded: $458,385 for "Development of brain-penetrant COMT inhibitors for the treatment of depressive disorders." Validates novel non-nitrocatechol COMT inhibitor approach for psychiatric indications.
Why it matters: NIH peer-reviewed grant provides non-dilutive funding and scientific validation of the COMT inhibitor approach for depression — a novel mechanism distinct from SSRIs, SNRIs, and ketamine/esketamine.
Recorded Events
Jun 1, 2023: Funding milestone
Evidence Links
company-website - Psy Therapeutics - Verified
PSY-02 (Tau Oligomerization Inhibitor)
Novel oral small molecule tau oligomerization inhibitor for Alzheimer's disease, Parkinson's disease, and other tauopathies. Disease-modifying approach targeting aggregation of tau proteins. Confirmed tau anti-aggregation properties in cell-based systems. Michael J. Fox Foundation grant funded (amount undisclosed). In-vivo proof-of-concept study results expected H2 2025.
Programme Tracker
Neurocognitive Disorders
Lead optimization with in-vivo proof-of-concept study underway. Cell-based assays confirm tau anti-aggregation. Michael J. Fox Foundation grant funded. PoC results expected H2 2025.
Milestones
Funding milestone
CompletedActual: Jan 1, 2024
Michael J. Fox Foundation grant awarded for PSY-02 tau oligomerization inhibitor program (Parkinson's/tauopathies). Amount undisclosed. Enables in-vivo proof-of-concept studies.
Why it matters: MJFF is the world's largest private funder of Parkinson's research. Grant validates scientific premise of tau-targeting approach and provides non-dilutive capital for critical PoC studies.
Recorded Events
Jan 1, 2024: Funding milestone
Evidence Links
company-website - Psy Therapeutics - Verified
PSY-06 (MDD — Potential Best-in-Class)
Novel small molecule positioned as "potential best-in-class treatment for MDD with greater efficacy and an improved safety profile." Undisclosed mechanism — distinct from PSY-01 COMT inhibitor. Currently in lead optimisation.
Programme Tracker
Major Depressive Disorder (MDD)
Lead optimization. Undisclosed mechanism distinct from PSY-01 COMT program. Described as potential best-in-class for MDD with improved safety profile.
Evidence Links
company-website - Psy Therapeutics - Verified
Quick Facts
- Type
- Private Biotech
- Founded
- 2019
- Lead Stage
- Pre-clinical
- Website
- Visit