Mental health treatment co Syremis Therapeutics raises $165m

Israeli biopharmaceutical company Syremis Therapeutics, which is developing medicines for mental health conditions, has announced the completion of a $165 million Series A financing round co-led by Dexcel Pharma and Third Rock Ventures, with participation from Bain Capital Life Sciences, GV (Google Ventures), and QVT. Pictet will support the advancement of Syremis’ pipeline through clinical proof of concept.

The company was founded by Elisabeth Kogan, former Teva SVP global generic R&D and Steve Paul, former CEO of Karuna Therapeutics, which developed the first new drug for schizophrenia and which was sold to BMS for $14 billion.

Syremis will focus on schizophrenia and Alzheimer’s psychosis. The company already has a lead product in Phase I clinical trials in this area. It also has drugs in its pipeline to treat major depression and bipolar disorder.

Syremis is a spin-off of Clexio Biosciences, which Kogan founded after she retired from Teva in 2017. Clexio is based in Yokneam, and the company’s products to treat depression were developed by her.

Dexcel Pharma co-CEO Ilan Oren said, “The combination of a seasoned leadership team, compelling science, and strategic focus positions the company to deliver meaningful impact for millions of patients worldwide.”

Published by Globes, Israel business news – en.globes.co.il – on December 21, 2025.

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