PsyTech Inc. Announces Closing of Oversubscribed Series A

Nearly $4 million raised to promote access to and the development of responsible delivery methods for psychedelic-assisted therapies

TORONTO, ONTARIO, CANADA, June 15, 2021 /EINPresswire.com/ — PsyTech Inc., a leading source of education, clinical care and clinical tools for the fast-growing psychedelic medical sector, announced today the closing of a $3.81 million oversubscribed Series A funding round. The round was led by Ambria Capital as well as investors in the psychedelics, banking, and medical practice sectors.

“We are grateful to our new and existing investors who have shown material support for our mission to accelerate the mainstreaming of effective psychedelic-assisted therapies,” said Hayim Raclaw, Chief Executive Officer for PsyTech Inc. “Closing this round enables us to empower healthcare providers with professional-grade software tools, and deliver integrative care to patients. We have a complementary focus on educating the public on the efficacy of psychedelic assisted therapies and combat the retrograde stigma surrounding their use in healthcare.”

“With a portfolio of cutting-edge private and public companies, Ambria is fervent about PsyTech’s approach to this blossoming industry,” said Cody Shandraw, Director of Ambria Capital. “Hayim and his team have shown a real passion for the community. The combination of their clinics, clinical therapy plans and software solutions create a unique value proposition for their clients and shareholders. PsyTech has been designed to explore psychedelic health and wellness, treat patients and accelerate innovation. We are confident that our investment will help capitalize on opportunities as they arise and accelerate the execution of their overall business plan.”

Proceeds from this round of funding will be used primarily to fund the company’s initiatives through Tovana Solutions and Tovana Clinics. Through its Tovana brand, PsyTech Inc. will launch new professional-grade clinical software tools that will enable clinicians to adopt and implement the most-effective psychedelic therapy practices. Developed by clinical experts, Tovana Solutions will include an in-depth protocol library for clinical best practices as well as adaptive support for screenings, therapies, integration techniques, biometric and evaluation. Tovana Clinics will launch with a chain of psychiatrist-lead comprehensive mental health clinics across the United States in the summer of 2021, which will accelerate the integration of the latest effective therapies into mainstream psychiatry.

In addition to its Tovana brand, PsyTech Inc. has also launched an online education course titled “Beyond Stigma: The Fundamentals of Psychedelic Medicine” that is accessible for anyone interested in learning more about psychedelic-assisted therapy, its potential for mental healthcare, and to combat the misinformation barriers that often associate with psychedelic medicines.

About PsyTech Inc.
PsyTech combines a robust psychedelic therapeutic community with integrative mental healthcare delivery and enabling tools for novel modalities of care. A leader in the development of data-driven tools that allow physicians unprecedented insight into patient well-being and clinical best practices, PsyTech is mainstreaming the adoption of psychedelic-assisted therapies through the promotion and delivery of safe and effective therapy, combating stigma, and accelerating innovation. For more information, please visit psytechglobal.com.

For more information, please contact:
Investor Contact:
Jenny Greer,
Director of Investor Relations, PsyTech Inc.
jenny@psytechglobal.com
Phone: 902-324-3333

Media Contact:
Nick Opich / Matthew Cossel
KCSA Strategic Communications
psytech@kcsa.com
Phone: 212-896-1206 / 347-487-7704

Nick Opich
KCSA
+1 212-896-1206
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