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Ulysses secures funding for hiring and expansion odyssey

Posted by on 22 April 2024
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Newly relocated CRO Ulysses Neuroscience is on the lookout for psychedelic, psychiatric and rare neurodevelopmental disease talent, and global growth after securing new funding.

The psychiatry and neuroscience-focused trials contractor completed the funding round this month, raising €500 thousand ($532 thousand) from investors that included private equity firm Growing Capital and the Government-backed organization Enterprise Ireland.

CEO Massimiliano Bianchi said: “This raise of €500,000 in investment is an important milestone allowing us to expand our patient-centric and translational neuroscience research platforms.

“With a portfolio of globally based pharma clients and an annual revenue of over €1 million ($1.06 million), we have been able to break through the contract research organization (CRO) market and are helping a range of industries to bring their new therapies into clinical trials and subsequently onto the market.”

The news comes just months after Ulysses relocated to the newly built Pioneer Group life sciences facilities in Cherrywood, Dublin in a move it said, “initiated a transformative phase of growth.”

This point was reiterated by Leo Clancy, CEO, Enterprise Ireland, who said “With this funding the company plans to scale its operations and continue to expand its market reach across the US, EU and Asian markets with a particular focus on expanding its clinical biomarker services. We look forward to working with the Ulysses Neuroscience team to realize their global ambition.”

Bianchi referenced the relocation, explaining it was “was driven by our vision to be the vanguard CRO in neuroscience drug discovery. Our new laboratories are fully operational and dedicated to performing and progressing the company biomarker and cell cultures operations.”

Ulysses continues to operate at a site at nearby Trinity College Dublin, where it is developing a preclinical electroencephalographic assay for exploring the use of psychedelics for the treatment of depression and the use of gene therapy for curing rare neurodevelopmental diseases.


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