Octarine Bio announces closing of extended seed round financing of $1.2 million USD with an uptick in valuation due to significant investor demand.
Octarine Bio announces closing of extended seed round financing of $1.2 million USD with an uptick in valuation due to significant investor demand.
03/11/21, 9:04 AM
Money raised
$1 million
Round Type
seed
Octarine Bio ApS (“Octarine” or “the company”), a synthetic biology company developing biosynthetic platforms for cannabinoids, psychedelics and their novel improved derivatives, today announced it has extended its seed round financing, closed in November 2020, with an additional $1.2 million USD due to significant demand from new and existing investors, bringing the total amount raised by the company to over $3 million USD.
Company Info
Additional Info
Octarine’s mission is to solve our greatest health challenges by enabling innovative cannabinoid and psychedelic therapeutics. Many neurological and psychological conditions are poorly served by current drugs, leaving physicians, patients, and their families desperately seeking alternative therapies, sometimes illegally. Cannabinoids and psychedelics are poised to offer breakthrough therapies for these debilitating conditions, but to realize the full potential of these molecules, issues with their production and undesirable properties must first be solved.