On September 27, 2021, preclinical neuroscience company Delix Therapeutics announced the closing of a $70 million Series A financing round. The round was led by ARTIS Ventures, RA Capital Management, and founding investor OMX Ventures, with participation from a diverse syndicate of life sciences and psychedelic investment funds including: Apeiron, Bail Capital, Casa Verde Capital, Dolby Family Ventures, Negev Capital, Noetic Fund, Ocama Partners, Palo Santo, Presight Capital, PsyMed Ventures, R2, Re.Mind Capital, Saya Bio, Vertical Venture Partners, WPSS, and other leading family investment funds. Wilson Sonsini Goodrich & Rosati advises Delix on patent and trademark matters and represented the company in IP matters related to the Series A financing.

Delix’s robust and innovative discovery engine has produced nearly 1,000 novel compounds to-date, with several potential clinical development candidates identified. The company’s most advanced compounds, which have been profiled in Nature and Cell, are non-hallucinogenic analogs of clinically-validated first-generation psychedelics like psilocybin, LSD, DMT, and MDMA. The company expects to use the proceeds to advance two lead candidates through Phase 1 clinical trials, further expand its drug discovery platform of novel neuroplasticity-promoting compounds known as psychoplastogens, and continue to rapidly grow its world-class team.

The Wilson Sonsini team that advised Delix on IP matters related to the transaction was led by Deborah Smith and included Ying Chen, Dylan Kahl, Mike Hostetler,  and John Slafsky.

For more information, please see Delix’s press release.