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Lunar Soil Excavation, New Thermoelectric Applications, and a Psychedelic Biotech Breakthrough

Lunar Soil Excavation, New Thermoelectric Applications, and a Psychedelic Biotech Breakthrough

Uncovering the world’s most exciting early stage companies. Discover what’s next.

March 15, 2024

FDA Grants Breakthrough Therapy Designation For Psychedelic Depression Drug

Cybin (NYSE:CYBN) has been granted Breakthrough Therapy designation from the FDA for their novel psychedelic molecule CYB003 for Major Depressive Disorder. Breakthrough Therapy designations from the FDA provide an expedited review pathway for future clinical trials, which can meaningfully reduce the time it takes to bring a new drug closer to final approval. Cybin also announced $150 million of new capital to fund the rest of their clinical trial development.

The New Lightweight Thermoelectric Generator For Solar And Drones

PyroDelta Energy unveiled a new lightweight thermoelectric generator that utilizes high purity tellurium. The 2.5 ounce device unlocks potential applications for extending the battery life of drones and the range of solar power deployment. First Tellurium (CSE:FTEL) owns a majority stake of PyroDelta Energy and plans to supply the tellurium necessary to begin full scale production of the thermoelectric generator.

Lunar Soil Excavation Startup Lands $18 Million

Interlune raised $18 million in a seed round, led by Seven Seven Six, the venture capital fund of Reddit co-founder Alexis Ohanian. The company has developed patent pending technology that uses small machines to excavate lunar soil and is aiming to become the first in the United States to commercialize extracting resources from the moon, starting with Helium-3.

The Sprint

Applied Intuition has landed $250 million to advance the development their software for autonomous vehicles that leverages artificial intelligence and machine learning.
AeroVolt has partnered with Octopus Electroverse to bring electric airplane charging stations to airfields in the United Kingdom.
Leonardo DiCaprio was unveiled as a seed investor in SolarMente, a solar energy subscription startup in Spain.

The Markets: Year-To-Date

+220.0% | Bitcoin Well (TSXV:BTCW). The company is focused on disrupting Bitcoin ownership through easy self-custody via their online portal and network of Bitcoin ATMs.

+66.9% | Solana. The layer 1 blockchain ecosystem has continued to gain ground on Ethereum, innovating through hardware, real world applications, and more.

+10.3% | COMPASS Pathways (NASDAQ:CMPS). The biotechnology and drug discovery company is exploring new ways to integrate psychedelic assisted therapies.

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