Gilgamesh Pharma Closes Oversubscribed $60 Million Series A to Develop Next Generation Neuropsychiatric Therapies

NEW YORK, March 24, 2026 /PRNewswire/ -- Gilgamesh Pharma, a clinical-stage neuroscience company developing breakthrough therapies for psychiatric and neurological disorders, today announced the successful closing of a $60 million Series A financing. The strong investor demand reflects the high quality of the company's clinical and preclinical pipeline.

This is the first formal capital raise for Gilgamesh Pharma, the spinout formed following the acquisition of Gilgamesh Pharmaceuticals and bretisilocin by AbbVie in 2025 (the "Acquisition"). The new company is led by the same management team and inherits all programs not acquired by AbbVie, as well as capital from the Acquisition and previous neuroplastogen collaboration and option-to-license deal with AbbVie initiated in 2024 (the "Collaboration").

Proceeds from this additional financing will support the advancement of Gilgamesh Pharma's portfolio of novel neuropsychiatric therapeutics, all of which are novel chemical entities (NCEs) with composition of matter IP, as well as the continued expansion of the company's discovery platform.

Gilgamesh Pharma recently reported positive Phase 2 results for blixeprodil (GM-1020), its non-competitive NMDA receptor antagonist being developed for the treatment of major depressive disorder (MDD). The study demonstrated clinically meaningful and statistically significant improvements in MDD, and the program is advancing into late-stage clinical studies this year.

The company's cardio-safe ibogaine analog, GM-3009, is expected to enter Phase 1 studies later this year. Gilgamesh Pharma also continues to advance its Collaboration with AbbVie to develop neuroplastogen therapeutics for neuropsychiatric disorders, providing further confidence in the potential of the company's discovery platform. Additional programs from Gilgamesh Pharma's internal pipeline are progressing toward IND-enabling studies and early clinical development.

The Series A financing was led by Satori Neuro, alongside participation from new and existing institutional investors, including Prime Movers Lab, which led prior Gilgamesh Pharmaceutical rounds.

"This additional financing strengthens our ability to advance multiple programs across our pipeline while continuing to expand our discovery efforts in neuropsychiatric disease," said Jonathan Sporn, M.D., Founder and Chief Executive Officer of Gilgamesh Pharma. "We are encouraged by the recent Phase 2 results for GM-1020 and the continued advancement of our broader pipeline, and look forward to building on this momentum."

"Gilgamesh Pharma represents precisely what we look for at Satori Neuro - breakthrough science, a disciplined team, and a pipeline with the potential to fundamentally reshape how we treat the most challenging mental health conditions," said Amy Kruse, General Partner and Chief Investment Officer, Satori Neuro. "Having supported this company's journey from an earlier stage, leading this oversubscribed round is both a privilege and a natural continuation of that commitment. We look forward to helping the team advance blixeprodil and their broader portfolio to the patients who need these medicines most."

About Gilgamesh Pharma: Gilgamesh Pharma is a clinical-stage neuroscience company developing innovative new chemical entities to transform psychiatric care. The company's lead program, blixeprodil, is an oral NMDA receptor antagonist currently being developed for MDD. Blixeprodil is designed to combine rapid onset of action and robust efficacy with the convenience of oral dosing and favorable tolerability profile and is expected to enter late-stage development in 2026. Like all Gilgamesh Pharma programs, blixeprodil is an NCE supported by issued composition of matter IP. Gilgamesh Pharma's broader pipeline is focused on creating treatments that move beyond symptom management toward therapies that offer meaningful and lasting improvements in patient outcomes. Learn more about the company's therapeutic pipeline at https://www.gilgameshpharmaceutical.com/. Follow Gilgamesh Pharma on LinkedIn and X.

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SOURCE Gilgamesh Pharma