Psilera and USF Collaborators at Morsani College of Medicine Receive Additional Funding to Support Preclinical Studies on New Chemical Entities

The Florida High Tech Corridor matched Psilera's contribution for research focused on developing novel derivatives of DMT with non-hallucinogenic properties for mental health and addiction disorders

TAMPA, Fla., March 8, 2022 /PRNewswire/ -- Psilera Inc. ("Psilera"), a biotechnology company specializing in the clinical development of psychedelic-inspired compounds and drug delivery systems for treating mental health disorders, was granted more than $130,000 from the Florida High Tech Corridor's Matching Grants Research Program, effectively doubling the life of a study conducted in collaboration with researchers from the University of South Florida ("USF"). This preclinical study focuses on understanding Psilera's non-hallucinogenic N,N-dimethyltryptamine (DMT) derivatives and their therapeutic potential to treat mood and addiction disorders.

Psilera's research team have identified lead candidates from their patent-pending drug library, aided by their proprietary virtual data platform, and have synthesized these compounds for crucial biological testing. The funded study, "Development of New Substituted N,N-Dialkyltryptamines for Treatment of Mental Health and Alcohol Use Disorder," will be led by Dr. Danielle Gulick, assistant professor, Department of Molecular Medicine in the USF Health Morsani College of Medicine, and supported by USF Health student researchers.

"We're proud to support Psilera's continued collaboration with USF's Morsani College of Medicine as they deliver on a commitment to grow in our region," said Corridor CEO Paul A. Sohl, Rear Adm. USN (ret). "Our matching funds provide a tangible benefit to Psilera and allow USF students to apply skills they've learned in the classroom to solve real-world problems and gain valuable perspectives as they enter our region's high-tech workforce."

Previously, Psilera announced that its first DMT derivative, PSIL-002, did not induce hallucinogenic effects in mice at extremely large doses greater than 100 mg/kg. PSIL-002 can therefore have 10-fold better dose flexibility as compared to moderate hallucinogens like DMT and psilocybin. Psilera has confirmed that PSIL-002 can access and impact regions of the brain critical for mental health, including the prefrontal cortex, amygdala, and limbic system. Further behavioral studies focused on antidepressant, anxiolytic, and cognitive effects, showed promising efficacy, with memory and learning having the greatest increase for PSIL-002. A second DMT analogue, PSIL-001, is currently undergoing the same preclinical testing.

"At Psilera, we strive to design leading mental health therapies that avoid the negative side effects often reported with current anxiolytics, antidepressants and similar mood-stabilizing pharmaceuticals," said Dr. Jackie von Salm, Co-Founder and Chief Scientific Officer of Psilera Inc. "This generous show of support and confidence from The Corridor and USF allows us to accelerate our research to discover next-generation medicines for devastating mental health conditions."

About Psilera Inc.
Psilera is a leading biotechnology company developing proprietary neuromodulators based on traditionally psychoactive compounds targeting mental health disorders. Psilera's next-generation data platform is being used to identify lead compounds with modified psychedelic and therapeutic effects in mood, cognitive, and substance use disorders. New formulations tailoring the therapeutic effects of DMT will improve treatment scalability and patient compliance, further expanding addressable markets. Psilera leverages a world-class scientific and pharmaceutical executive team to repurpose psychoactive natural products into effective and accessible patient-centric treatments.

About the Florida High Tech Corridor
An economic development initiative of three research universities – the University of Central Florida, the University of South Florida and the University of Florida – the Florida High Tech Corridor converges and catalyzes the capacity of high tech, innovation and bright minds across a 23-county region to generate a global ripple effect that advances the lives of people in the communities it serves. Powered by an ethos of collaboration, The Corridor aligns opportunities and resources in academia, industry and economic development to unleash the region's "expotential."

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