Google co-founder, Sergey Brin, is investing big in an ibogaine-focused psychedelics startup through his Catalyst4 fund established in 2021. Brin’s non-profit investment vehicle will contribute over C$20.5 million to Soneira: a new drug developer with no online presence.
That is according to a report published by the Financial Times last weekend, citing sources familiar with the matter. Soneira’s primary aim is to use the drug for treating traumatic brain injury (TBI).
Brin, the world’s seventh wealthiest person, used capital from his former stake in Tesla Inc (Nasdaq: TSLA) to fund Catalyst4’s creation and investment endeavours.
He sold over C$503 million worth of shares three years ago after a supposed falling out with Elon Musk. It was attributable to an alleged affair between the SpaceX founder and Brin’s wife, multiple sources reported. They had been friends for years before the drama unfolded. Musk has refuted the claims, but the stake was sold by Brin nonetheless.
Soneira’s activities are being overseen by Nolan Williams, a psychiatrist from Stanford University in California. In addition to treating TBI, Soneira aims to create a synthetic variation of ibogaine.
Sergey Brin's non-profit is funding a company looking into ibogaine, a west African shrub historically used as part of spiritual rituals by forest-dwelling tribes in Gabon. https://t.co/Rb1pBAVuyC pic.twitter.com/B6lSaffoLQ
— Financial Times (@FT) July 22, 2024
Read more: Beond publishes ‘Ibogaine: A Clinical Summary’
Read more: Investors wince as FDA panel rejects proposal to approve ‘molly’ for PTSD therapy
Brin known to enjoy psilocybin mushrooms
Psychedelics have gained popularity among several tech executives in recent years. Multiple sources, such as the Wall Street Journal, say that Brin is known to microdose psychedelic fungi.
Meanwhile, his former friend over at Tesla has been known to take ketamine for mental stability when he isn’t fine-tuning the Cybertruck, shmoozing with world leaders or discussing the “woke mind virus” with Jordan Peterson.
“Zombifying people with SSRIs [antidepressants] happens way too much,” Musk said last January. “From what I’ve seen with friends, ketamine taken occasionally is a better option.”
Other influential business-savvy people who have taken an interest in psychedelics include Steve Cohen and Peter Thiel.
Cohen took an 8.1 per cent stake in Cybin Inc. (NYSE American: CYBN) last fall through his Point 72 hedge fund. Billionaire Thiel led a C$172 million dollar funding round for ATAI Life Sciences NV (Nasdaq: ATAI) in November.
rowan@mugglehead.com
