Welcome back to the Psychedelic Invest week in review. Here are the stories that moved the psychedelic sector during the week of September 15–21, 2025 — from clinical readouts to regulatory shifts and the capital flowing through the space.
Reunion Neuroscience Inc. (Private): Reunion Neuroscience upsizes Series A to $133 million after positive trial data
Reunion Neuroscience announced the final closing of its Series A, with the last tranche increasing from $21 million to $51 million to bring the round to $133 million. The upsize was triggered after its RECONNECT study of RE104 in postpartum depression met pre-set efficacy criteria. Proceeds fund the ongoing REKINDLE Phase 2 trial in adjustment disorder and expansion of RE104 into generalized anxiety disorder.
Source: globenewswire.com
atai Life Sciences N.V. (ATAI): atai awarded NIH grant of up to $11.4 million for non-hallucinogenic opioid use disorder program
atai received a multi-year, milestone-based grant worth up to $11.4 million from the National Institute on Drug Abuse (part of NIH) to develop novel 5-HT2A/2C receptor agonists with non-hallucinogenic potential for opioid use disorder. The funding supports lead optimization, proof-of-concept studies and IND-enabling work. atai framed it as the first external validation of its AI-driven drug discovery approach.
Source: globenewswire.com
Colorado Natural Medicine Advisory Board (policy) (N/A): Colorado advisory board votes to recommend adding ibogaine to regulated healing centers
Colorado's Natural Medicine Advisory Board voted 5-2 to recommend therapeutic access to ibogaine within the state's regulated natural medicine framework. If adopted, Colorado would become the first U.S. state with licensed ibogaine facilities, though access is contingent on compliance with the Nagoya Protocol governing sourcing. The move signals expanding state-level psychedelic policy beyond psilocybin.
Source: marijuanamoment.net
That's the recap. Follow the Psychedelic Invest Index for how the sector is trading, and check back next week for the next edition.