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News & Trends - Pharmaceuticals

Local biotech and global pharma forge partnership in psychiatric medicine

Health Industry Hub | June 28, 2023 |

Pharma News: A new pharma-biotech alliance promises to transcend conventional boundaries and reshape the landscape of psychiatric medicine, igniting a beacon of hope for countless individuals grappling with chronic mental illness.

Australia’s biotech start-up Psylo has announced a Sponsored Research Agreement with global Japanese pharmaceutical company Daiichi Sankyo (DSNKY). Psylo, renowned for its proficiency in neuropsychiatric therapies, will team up with Daiichi Sankyo, a powerhouse in drug discovery and clinical development.

As part of the partnership, Psylo will establish an office at Daiichi Sankyo’s B+labs incubation space in Philadelphia. This strategic move grants Psylo unparalleled access to state-of-the-art research and development resources, propelling their mission to the forefront of mental health advancements.

Expressing his enthusiasm for the collaboration, Josh Ismin, CEO of Psylo, stated, “We are thrilled to receive support from Daiichi Sankyo in our mission to develop new and effective treatments for chronic mental illness. This sponsorship represents a step forward in our efforts to harness the therapeutic potential of compounds to address mental health challenges.”

Matthew Burkhardt, Director of B+labs, echoed this sentiment, remarking, “We are thrilled to welcome Psylo to our incubation space and look forward to supporting their research and development efforts. This sponsorship exemplifies our commitment to fostering innovation and driving advancements in life sciences.”

Sam Banister, Chief Scientific Officer of Psylo, emphasised the significance of Daiichi Sankyo’s involvement, stating, “Daiichi Sankyo is a world leader in pharmaceutical development. To have Daiichi Sankyo’s guiding hand as we push through this next critical stage of development will prove invaluable in translating our R&D efforts into early clinical development.”

This pivotal Sponsored Research Agreement serves as a beacon of hope for individuals enduring chronic mental illness, as it will propel the creation of non-hallucinogenic psychiatric therapies. By revolutionizing the field of antidepressants, Psylo and Daiichi Sankyo aim to bring newfound hope and relief to patients worldwide, transforming the way mental health is understood and treated.

This partnership represents a landmark moment in the field of mental health, showcasing the power of collaboration, innovation, and a shared commitment to improving the lives of those affected by chronic mental illnesses. Together, Psylo and Daiichi Sankyo are poised to reshape the future of psychiatric medicine, ensuring a brighter tomorrow for individuals seeking solace from the burdens of mental health challenges.


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