CRC-P GRANT SECURED BY TESSARA THERAPEUTICS,PSYLO,AND THE UNIVERSITY OF SYDNEY TO ADVANCE BRAIN-REWIRING TREATMENTS FOR ADDICTION

BOULDER,Colo.,Oct. 29,2024 -- Tessara Therapeutics,Psylo,and theUniversity of Sydney are pleased to announce their receipt of a $3 millionCooperative Research Centres Projects (CRC-P) grant. Matching funds committed by the partners increases the total project investment to $6.2 million. The collaboration will focus on the development of neuroplastogens for the treatment of substance use disorders,with an emphasis on methamphetamine addiction.

Methamphetamine addiction is a serious public health issue with limited effective treatments,highlighting the urgent need for new therapeutic approaches. This collaboration will leverage Tessara's cutting-edge RealBrain® microtissue technology,Psylo's pioneering neuroplastogens,and the University of Sydney's neuroscience expertise to address this critical challenge.

Neuroplastogens are a novel class of compounds that promote neuroplasticity—the brain's capacity to adapt,reorganize,and form new neural connections. Unlike traditional treatments that mainly address symptoms,neuroplastogens aim to directly restore brain function by stimulating the growth and remodeling of neural circuits. This innovative approach has the potential to yield faster,more effective treatments for addiction and other mental health conditions.

"This grant provides an exciting opportunity to combine the expertise of Tessara,and the University of Sydney in developing transformative solutions for an urgent medical need," said Dr. Christos Papadimitriou,CEO and Managing Director of Tessara Therapeutics. "Tessara's high-throughput,human cell-based microtissues model brain function more accurately,driving more efficient discovery of drugs to treat addiction."

Joshua Ismin,CEO and co-founder of Psylo,added,"At Psylo,our mission is to address critical gaps in mental health care with next-generation neuroplastogens. This collaboration not only accelerates our drug development but also brings us closer to providing meaningful solutions for addiction-related disorders."

The project aims to significantly reduce the time and cost associated with neuroplastogen discovery,creating faster and more precise pathways for treating substance use disorders.

"This collaboration represents a major step forward in developing research models that better reflect human biology,enabling more precise testing of new therapies," said Dr. Nick Everett,Research Fellow at theBrain and Mind Centre and University of Sydney's School of Psychology,and expert in behavioral neuroscience. "We believe this project could redefine how addiction therapeutics are developed."

Scheduled to run from January 2025 to December 2027,the initiative will not only deliver promising neuroplastogen candidates but also enhance capabilities in neuroplasticity research,improve access to high-efficiency preclinical models,and promote sustainable research practices in drug discovery.

This project received grant funding from the Australian Government under the Cooperative Research Centres Projects Round 16.

About Tessara Therapeutics

Tessara Therapeuticsis a biotechnology company focused on developing novel drug discovery technologies and therapeutic solutions for mental health disorders. Their innovative approaches aim to revolutionize the preclinical drug development process,improving outcomes and reducing timeframes for new treatments.

About Psylo

Psylois a biotechnology company dedicated to developing next-generation neuroplastogens to treat central nervous system disorders. By utilizing AI-guided drug design and translational biomarkers,Psylo aims to transform the neurotherapeutic landscape and improve the lives of millions worldwide.

About the University of Sydney

The University of Sydney is Australia's first university and a global top-20 higher education teaching and research institution. With world-class programs in neuroscience,psychology,and mental health,the university works in close collaboration with industry to transform how mental health conditions are understood and treated.