BetterLife Pharma
Preclinical1 active candidate
2 shared indicationsPreclinical peersame regulator: US FDAsimilar active pipeline size
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Lead program: Preclinical
Categories
1 domain / 2 areas / 1 specialization
Xylo Bio
Also known as: Psylo
Data updated
1 Drug Candidate
Xylo Bio (formerly Psylo) is an Australian-US biotech developing next-generation neuroplasticity-promoting therapeutics for mental health. Founded in 2021 by Josh Ismin and Sam Banister in Sydney, the company has labs at the University of Colorado Boulder and the University of New South Wales. Its lead candidate PSYLO-100X is a non-hallucinogenic compound designed for home administration without clinical supervision, advancing through IND-enabling studies toward first-in-human trials. Xylo has raised $14.2M including an $8M seed round in June 2024 from Tenmile, Focalpoint Partners, and Palo Santo.
Pipeline Intelligence
Developer Momentum
- Active candidates
- 1
- Active programmes
- 1
- Lead stage
- Preclinical
- Forecast coverage
- 1 of 1
All tracked candidates active
All tracked programmes active
Current furthest stage
1 active programme with forecast fields
Latest sourced update
Xylo Bio Company Site
Jun 26, 2026 - company-website - Xylo Bio - XYL-1001 (formerly PSYLO-100X)
Next known catalyst
No next milestone forecast yet.
4 sources0 pipeline-linked trials0 pipeline-linked papers
Development Programmes
1XYL-1001 (formerly PSYLO-100X)
Preclinical
Depression, anxiety, ruminative disorders — non-hallucinogenic 5-HT2A-selective neuroplastogen
Programme Tracker
Major Depressive Disorder (MDD)
Primary: US (FDA)
Pre-clinicalActive
XYL-1001 remains in IND-enabling/manufacturing scale-up, with Xylo reporting rebrand/pipeline progress in 2025 and first-in-human trials planned around mid-2026.
Milestones
Pre-clinical completed
In progressManufacturing scale-up initiated; preclinical efficacy data (antidepressant-like effects, neuroplasticity, pro-cognitive) reported
Why it matters: Positive preclinical data and manufacturing progress support the mid-2026 FIH timeline. The non-hallucinogenic, 5-HT2A-selective, 5-HT2B-sparing profile is the key differentiator in a crowded neuroplastogen field.
Watch next: IND-enabling tox completion and FDA IND filing
Funding milestone
CompletedActual: Jun 3, 2024
First close on $8M Series Seed financing announced at BIO Conference San Diego
Why it matters: The $8M seed funds IND-enabling studies and manufacturing scale-up for XYL-1001 (then PSYLO-100X). Xylo Bio's computationally enhanced drug discovery platform identified XYL-1001 as a non-hallucinogenic 5-HT2A-selective neuroplastogen that avoids 5-HT2B activation (reducing cardiac risk) while preserving antidepressant-like efficacy and pro-cognitive effects in preclinical models.
Watch next: IND filing and FIH study initiation mid-2026
Company milestone
CompletedActual: Jan 1, 2025
Rebranded from Psylo to Xylo Bio; key board appointments; restructured as US Delaware C-corp
Why it matters: US reincorporation and rebrand position the company for US IND filing and institutional fundraising. Board appointments signal expansion from academic origins toward clinical-stage drug development.
Recorded Events
Jan 1, 2025: Company milestone
Jun 3, 2024: Funding milestone
Evidence Links
Xylo Bio Company Site
company-website - Xylo Bio - Jun 26, 2026 - Verified
Company site describes Xylo next-generation targeted neurotherapeutics and pipeline direction.
Psylo Announces First Close on 8M Series Seed Financing
Press release - PRNewswire / Psylo - Jun 3, 2024 - Verified
Series seed announcement supports PSYLO-100X as flagship non-hallucinogenic 5-HT2A agonist advancing toward clinical development.
Psylo Rebrands as Xylo with Pipeline Progress
Press release - PRNewswire / Xylo Bio - Jan 1, 2025 - Verified
Rebrand announcement says XYL-1001 manufacturing scale-up has begun and first-in-human clinical trials are planned for mid-2026.
Xylo Bio March 2025 Newsletter
company-update - Xylo Bio - Mar 1, 2025 - Verified
Newsletter describes XYL-1001 as a non-hallucinogenic, 5-HT2A-selective neuroplastogen advancing toward clinical trials.
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Quick Facts
- Type
- Private Biotech
- Founded
- 2021
- Lead Stage
- Preclinical
- Website
- Visit