Swedish Foundation Supports Mental Health Innovation With New €3M Psychedelic Science Initiative
Portfolio Pulse from Lara Goldstein
The Norrsken Foundation is launching a $3.22 million initiative, Norrsken Mind, to support Swedish startups developing psychedelic-assisted mental health treatment options. The initiative has already raised over €3 million and expects more capital soon. This follows other European funding efforts in the field, such as the $285 million private placement raised by London-based COMPASS Pathways (NASDAQ:CMPS).
September 13, 2023 | 8:46 pm
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POSITIVE IMPACT
COMPASS Pathways, a London-based company, recently raised $285 million in private placement. The company may benefit from the increased interest and funding in the field of psychedelic-assisted mental health treatments.
The news of Norrsken Foundation's initiative indicates a growing interest and investment in the field of psychedelic-assisted mental health treatments. This could potentially benefit COMPASS Pathways, which operates in the same field and recently raised significant funding. Increased interest in this field could lead to more opportunities and potential partnerships for COMPASS Pathways, potentially positively impacting its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70