Pharmaceutical company PsyRx announces new Executive Chairman

Grotto also helped in national strategy developments during the coronavirus outbreak in Israel for the first time.

The pharmaceutical industry must be allowed to continue developing and growing. (photo credit: PIXABAY)
The pharmaceutical industry must be allowed to continue developing and growing.
(photo credit: PIXABAY)

Pharmaceutical company PsyRx has announced on Tuesday the appointment of Prof. Itamar Grotto as their new Executive Chairman of their scientific advisory board.

The company, founded and based in Israel, focuses on treating mental health conditions, which does so by producing and researching GMP-grade Psilocybin and Ibogaine for drug purposes. The Health Ministry recently renewed the company's license to conduct R&D in Psilocybin and Ibogaine.

Prof. Grotto was the former Associate Director-General of the Health Ministry between the years of 2017 and 2021, a Public Health Physician and Professor of Epidemiology, and a WHO Executive Board Member.

Grotto also helped in national strategy developments during the coronavirus outbreak in Israel for the first time.

He will also enable PsyRx to finish developing the production capabilities of GMP-grade Ibogaine and Psilocybin that can treat treatment-resistant depression MDD.

 Prof. Itamar Grotto. (credit: PSYRX) Prof. Itamar Grotto. (credit: PSYRX)

"Moving forward we see his joining as a preemptive strike we can deal with before we embark on the regulatory pathway towards approval of psilocybin and later other substances that have a psychedelic effect," says Itay Hecht, PsyRx CEO and co-founder.