Psychedelic Funding Update: Q3 2025 - Tracker highlights $120M raised across eight financing events and key rounds from major companies

Psychedelic financing activity dropped slightly in Q3 2025 versus the prior quarter and was down substantially from Q2, with just over $120M raised across eight financing events. Atai Life Sciences led the largest reported round: a $50M private placement backed by Ferring Ventures and Christian Angermayer’s family office, Apeiron Investment, announced in early July. The timing is linked to positive Phase 2b results for intranasal 5-MeO-DMT (BPL-003) for treatment-resistant depression, alongside Atai’s ongoing process of merging with Beckley. The update also spotlights Reunion Neuroscience’s progress, including a positive topline readout for its 4-OH-DiPT prodrug (RE104) in postpartum depression and a later upsized Series A closing that the tracker attributes to milestones. Other notable items include Sensorium Therapeutics’ Series A extension raising $25M and UC Davis Health Ventures making an initial investment from its $25M IFM fund into Delix Therapeutics (not included in the tracker because the deal size was not publicly disclosed).