Gilgamesh Pharma Closes USD 60m Series A to Advance Neuropsychiatric Pipeline

Gilgamesh Pharma, a clinical-stage neuroscience company headquartered in New York, has closed an oversubscribed USD 60 million Series A financing round to advance its portfolio of neuropsychiatric therapies. The company develops novel chemical entities targeting psychiatric and neurological disorders, with a pipeline spanning clinical and preclinical stages.

The round was led by Satori Neuro, with participation from Prime Movers Lab, which led prior funding rounds for the predecessor entity Gilgamesh Pharmaceuticals, alongside other new and existing institutional investors. The company said proceeds will support the advancement of its clinical programs, progression of earlier-stage assets toward IND-enabling studies, and continued expansion of its discovery platform.

Gilgamesh Pharma was formed as a spinout following AbbVie's acquisition of Gilgamesh Pharmaceuticals and its compound bretisilocin in 2025. The new entity retained all programs not acquired by AbbVie, along with capital from the acquisition and from a prior neuroplastogen collaboration and option-to-license deal with AbbVie initiated in 2024. The same management team leads the reconstituted company.

The company's lead candidate is blixeprodil (GM-1020), an oral non-competitive NMDA receptor antagonist in development for major depressive disorder. Gilgamesh Pharma recently reported positive Phase 2 data for blixeprodil, with the company stating the study demonstrated statistically significant and clinically meaningful improvements in MDD. The program is expected to advance into late-stage clinical studies in 2026. A second clinical asset, GM-3009, is a cardio-safe ibogaine analog expected to enter Phase 1 studies later this year. Additional programs from the internal pipeline are progressing toward IND-enabling studies. All candidates are novel chemical entities supported by composition of matter intellectual property, the company said.

The underlying science draws on research into neuroplastogens, compounds that promote structural neural plasticity. Gilgamesh Pharma maintains an ongoing collaboration with AbbVie focused on developing neuroplastogen therapeutics for neuropsychiatric disorders. The company's platform is rooted in academic research conducted at the University of California, Davis, in the laboratory of David E. Olson, a co-founder of the company. Olson's lab coined the term neuroplastogen and published foundational work demonstrating that psychedelic-derived compounds promote dendritogenesis and synaptogenesis in cortical neurons, with key papers appearing in Cell Reports (2018) and Nature (2020). The latter described tabernanthalog, a non-hallucinogenic ibogaine analog designed to retain neuroplastogenic properties while eliminating cardiotoxicity, which serves as the scientific precursor to GM-3009.

Jonathan Sporn, M.D., is the founder and chief executive officer of Gilgamesh Pharma. The Series A represents the first formal capital raise for the reconstituted entity, though the company also carries forward capital from the AbbVie acquisition and prior collaboration. No details on earlier funding amounts for the predecessor company were disclosed in the announcement.

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