Lithuanian BioTech platform Psylink raises over €500k for mental health innovation

Psylink, a Vilnius-based startup focused on developing innovative treatments for people facing mental health challenges, raised over €500k in a pre-Seed investment round.

The round was led by the VC fund Coinvest Capital, with Firstpick and BSV also participating, along with a syndicate of angel investors.

“At Psylink, we’re developing science-based therapies inspired by nature to help those who haven’t benefited from conventional treatments. We’re proud to partner with investors who recognise the urgency and potential of this work. Our multidisciplinary team is united by a clear mission: to create safe, effective, and sustainable solutions for mental health, drawing on the rich diversity of bioactive compounds found in plants and fungi,” said Laura Korsakova, CEO of Psylink.

Founded in 2020, Psylink is a BioTech company focused on developing innovative treatments for mental health disorders. Its R&D strategy is built on two key pillars. Psylink is developing a sustainable biotechnology platform to produce natural compounds, particularly fungi-derived molecules, using engineered yeast cells as biosynthetic “mini-factories.” This method aims to offer an environmentally friendly alternative to traditional chemical synthesis and extraction processes.

The second pillar focuses on discovering and evaluating novel compounds for conditions like depression and PTSD. By studying psilocybin and related fungal metabolites, Psylink aims to uncover new therapeutic agents through a deeper understanding of their molecular interactions and effects on cellular systems.

“Psylink stands out by combining rigorous biotechnology with the therapeutic potential of natural compounds – an approach that is not only innovative but also grounded in strong scientific validation. What impressed us is their ability to bridge traditional wisdom and modern neuroscience. This is exactly the kind of transformative innovation the mental healthcare market urgently needs, and we believe Psylink is well-positioned to lead in this emerging space,” Viktorija Trimbel, Managing Director of Coinvest Capital, noted.

The capital will be used to advance Psylink’s proprietary biotechnology platform for the sustainable production of plant- and fungi-derived compounds. It will also fuel the screening and evaluation of novel molecular candidates, accelerating the identification of high-potential compounds for further development and preclinical validation.

“Psylink’s work with next-generation psychedelic derivatives has the potential to redefine what’s possible for patients facing mental health challenges. I’m honored to support the team at this early stage and to help bring these much-needed therapies closer to those who need them most,” said Erin Gainer, lead of the angel investor syndicate.

Psylink outlines that they were established to address a critical gap in the mental healthcare market by developing novel treatments for patients who do not respond to conventional therapies.

With an estimated 30–40% of individuals with depression experiencing minimal or no benefit from standard antidepressants, there is a demand for more effective, science-driven alternatives – an area Psylink aims to lead.

“Psylink is a rare example of DeepTech innovation from our region, addressing a global challenge with scientific clarity and purpose. We’re proud to support a team developing real BioTech with the potential to transform how we treat mental health,” commented Sandra Golbreich, Partner at BSV Ventures.

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