5 Psychedelic Startups Investors are Flocking To

2. Eleusis

Eleusis is a London-based biotechnology company working on psychedelic therapies. It is placed second on our list of 10 psychedelic startups investors are flocking to. The company has so far raised more than $5.7 million in funding over four rounds. The latest round was held in October 2020. One of the investors in the firm in the Palo Santo Fund. The company also has offices in New York. It mainly focuses on the development of restricted, small molecule drugs in the psychedelic field.

In the bio industry, there is no name bigger than Bristol-Myers Squibb Company (NYSE: BMY), the biopharma firm headquartered in New York. Bristol-Myers Squibb Company (NYSE: BMY) sells various drugs for mental health conditions and could stand to benefit from the strides being made in the field from psychedelic research. 

At the end of the first quarter of 2021, 72 hedge funds in the database of Insider Monkey held stakes worth $5.9 billion in Bristol-Myers Squibb Company (NYSE: BMY), down from 83 in the preceding quarter worth $6.9 billion.