What Woke Pharmaceuticals does

Woke Pharmaceuticals Pty Ltd is an Australian clinical-stage pharmaceutical company founded in 2021 and headquartered in Sydney that develops proprietary psychedelic-based therapies for mental health disorders. The company's core pipeline consists of three drug candidates: WP001, a 1mg low-dose psilocybin rapid-release capsule for moderate depression being evaluated in a Phase IIB trial at Macquarie University; WP002, a 25mg high-dose psilocybin rapid-release tablet targeting treatment-resistant depression, alcohol use disorder, prolonged grief disorder, and chronic musculoskeletal pain across multiple Phase IIB trials with Swinburne University, the University of Sydney, QIMR Berghofer, and Curtin University; and WP003, a drug discovery program of novel LSD analogues developed with the University of Western Australia, which has yielded 55 new compounds and a provisional patent filing.

The proprietary formulations are developed in collaboration with Monash University's Medicines Manufacturing Innovation Centre (MMIC) and manufactured under cGMP by IDT Australia using psilocybin API supplied by Purisys. Clinical operations are supported by collaborations with Imperial College London and Drug Science UK for trial design expertise. The company has filed two provisional patent applications covering its psilocybin formulations and the UWA LSD analogues, and has benefited from the 2023 TGA down-scheduling of psilocybin in Australia.

The business operates two revenue streams. The pharmaceutical pipeline is pre-revenue with no approved products and no disclosed licensing income; future revenue is anticipated from pharmaceutical sales or licensing upon regulatory approval. The second stream is Woke Health, a wholly-owned subsidiary that commercializes functional mushroom nutritional supplements (Mind Mushroom, Lion's Mane, Chaga Immunity, Cordyceps Perform, Reishi Recharge) through direct e-commerce and an exclusive white-label supply and distribution agreement with Canadian partner HAVN Life Sciences covering Australia, New Zealand, ASEAN, and China. The company raised AUD $1.55 million in an oversubscribed seed round in November 2021 and has not disclosed subsequent funding rounds.

Name

Woke Pharmaceuticals

Legal name

Woke Pharmaceuticals Pty Ltd

Website

https://wokeph.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Woke Pharmaceuticals is an Australian clinical-stage pharmaceutical company developing proprietary psilocybin-based therapies and novel LSD analogues for mental health disorders, while operating a Woke Health subsidiary that distributes functional mushroom supplements across Australia, New Zealand, ASEAN, and China.

Ownership category

akta.pro rank

Product category

Psychedelic Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Medicinal and Botanical Manufacturing (325411), Research and Development in Biotechnology (except Nanobiotechnology) (541714), Pharmaceutical and Medicine Manufacturing (32541)

SIC

Pharmaceutical Preparations (2834), Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Neurology & Psychiatry (CNS) Pharmaceuticals (HLAIAAAF)

akta.pro secondary industry

Healthy Aging & Cognitive Support Supplements (CRADAGAM)

Keywords

• Psychedelic pharmaceuticals
• Psilocybin drug development
• Mental health therapeutics
• Clinical-stage biopharmaceuticals
• Functional mushroom supplements

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales

Revenue model

1. Pharmaceutical Drug Development and Commercialization: Development of proprietary psilocybin-based pharmaceutical products through clinical trials for mental health disorders. Revenue anticipated from future pharmaceutical product sales upon regulatory approval.
2. Natural Health Products (Woke Health): Sale of natural health product formulations including functional mushroom extracts and nutritional supplements. Products include Mind Mushroom, Lion's Mane, Chaga Immunity, Cordyceps Perform, and Reishi Recharge sold via e-commerce and retail distribution.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Woke Pharmaceuticals is a clinical-stage pharmaceutical company developing proprietary psilocybin-based drug candidates (WP001 and WP002) and novel LSD analogues (WP003) for the treatment of mental health disorders including moderate depression, treatment-resistant depression, alcohol use disorder, prolonged grief, chronic musculoskeletal pain, anxiety, substance abuse, and PTSD. The company also operates a Woke Health subsidiary that distributes natural health products (functional mushroom supplements such as Mind Mushroom, Lion's Mane, Chaga Immunity, Cordyceps Perform, and Reishi Recharge) through e-commerce and retail partnerships in Australia, New Zealand, ASEAN, and China.

Product overview

Woke Pharmaceuticals is a pharmaceutical R&D company developing psychedelic-based therapies for mental health disorders. The core product portfolio consists of proprietary drug candidates: WP001 (low-dose psilocybin capsule for moderate depression), WP002 (high-dose psilocybin tablet for treatment-resistant depression and other indications), and WP003 (novel LSD analogues for anxiety, substance abuse, and PTSD). These pharmaceutical candidates are developed through partnerships with universities and formulation centers. The company also operates a subsidiary, Woke Health, which commercializes natural health products including Mind Mushroom, Lion's Mane, Chaga Immunity, Cordyceps Perform, and Reishi Recharge supplements derived from functional mushrooms, distributed via a partnership with HAVN Life Sciences.

Differentiator

Problem solved

Functional benefit

Brands

• Woke Health: Natural health product brand offering functional mushroom extracts and nutritional supplements including Mind Mushroom, Lion's Mane, Reishi Recharge, and Cordyceps Perform.
• Woke Health Shop

Products and services

• WP001 Low-dose (1mg) psilocybin rapid-release capsule developed with Monash University's MMIC for the treatment of moderate depression. Currently in Phase IIB clinical trial at Macquarie University.
• WP002 High-dose (25mg) psilocybin rapid-release tablet with concomitant psychotherapy for treatment-resistant depression, alcohol use disorder, prolonged grief disorder, and chronic musculoskeletal pain. In Phase IIB trials with multiple Australian universities.
• WP003 Drug discovery program for novel LSD analogues for treatment of anxiety, substance abuse, and PTSD. In partnership with University of Western Australia, with 55 new LSD compounds discovered.
• Woke Health Natural Health Products Non-GMO, vegan, bioavailable nutritional supplements derived from functional mushrooms and plants, including Mind Mushroom, Lion's Mane, Chaga Immunity, Cordyceps Perform, and Reishi Recharge. Distributed via exclusive partnership with HAVN Life Sciences.
• Mind Mushroom Functional mushroom supplement formulated for immunity and energy balance, part of the Woke Health range.
• Lion's Mane Functional mushroom supplement formulated for brain and body balance, part of the Woke Health range.
• Chaga Immunity Anti-inflammatory antioxidant supplement derived from Chaga mushroom, part of the Woke Health range.
• Cordyceps Perform Functional mushroom supplement formulated for boosting energy, part of the Woke Health range.
• Reishi Recharge Functional mushroom supplement providing stress management support, part of the Woke Health range.

Quantifiable outcome

• Phase II trials demonstrate approximately 4x greater therapeutic benefit compared to current depression treatments
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and secondary.

• Monash University Medicines Manufacturing Innovation Centre (MMIC)coreStrategic or Co-development PartnerPartnership established October 2021 with Monash University's MMIC for development of proprietary psilocybin formulations. WP001 developed as novel rapid-release capsule at 1mg dose for moderate depression. WP002 developed as novel rapid-release tablet at 25mg dose for treatment-resistant depression. MMIC provides world-leading capabilities for novel dosage forms and IP protection.
• Macquarie UniversitycoreStrategic or Co-development PartnerAgreement with Macquarie University to conduct Phase IIB trial of WP001 (low-dose psilocybin microdose) for moderate depression. Dr Vince Polito serves as Principal Investigator. Trial received ethics approval and is Australia's largest psychedelic-focused clinical trial, enrolling over 260 patients.
• Swinburne University of TechnologycoreStrategic or Co-development PartnerMemorandum of Understanding signed August 2022 with Swinburne University to conduct Phase IIB trial of WP002 for treatment-resistant depression. Professor Susan Rossell serves as Principal Investigator. Trial is Woke's flagship Australian Phase IIB trial conducted in collaboration with Imperial College London and Drug Science UK.
• Imperial College London / Drug Science (UK)coreStrategic or Co-development PartnerCollaboration with UK-based Drug Science led by Professor David Nutt for Phase IIB trial of WP002 for treatment-resistant depression. Professor Nutt serves as advisor to Woke Pharmaceuticals. Provides expertise in design of psychedelic clinical trials.
• University of SydneycoreStrategic or Co-development PartnerClinical trial agreement signed December 2022 for Phase IIB trial of WP002 in alcohol use disorder. Site agreement executed November 2025 to progress trial. Professors Paul Haber and Kirsten Morley serve as Principal Investigators. Trial will enrol approximately 60 patients.
• QIMR BerghofersecondaryStrategic or Co-development PartnerClinical trial agreement signed December 2022 with QIMR Berghofer for Phase II feasibility trial of WP002 for prolonged grief disorder. Trial named PARTING (Psilocybin-Assisted supportive psychoTherapy IN the treatment of prolonged Grief). Associate Professor Vanessa Beesley serves as Principal Investigator. Ethics submission in progress.
• Curtin UniversitysecondaryStrategic or Co-development PartnerClinical agreement signed February 2023 with Curtin University to evaluate WP002 for chronic musculoskeletal pain. Collaboration with Monash University and George Institute. Dr Rob Schütze serves as Principal Investigator. Phase IIB trial design in progress.
• University of Western Australia (UWA)coreStrategic or Co-development PartnerPartnership with Associate Professor Scott Stewart at UWA to discover novel analogues of LSD for treatment of anxiety, substance abuse and other mental health disorders. Research aims to solve side-effect, toxicity, and pharmacokinetic challenges limiting LSD therapeutic application. Extended partnership following discovery of 55 new LSD compounds. Provisional patent filed for new simplified LSD analogues.
• IDT AustraliacoreTechnology or IntegrationManufacturing agreement signed April 2022 with IDT Australia for psilocybin-based pharmaceuticals. IDT has relevant licenses from Office of Drug Control and Victoria's Department of Health for Schedule 9 products. Manufacturing clinical material for WP001 and WP002. cGMP compliant facilities audited by US FDA and Australian TGA.
• Purisys LLCcoreTechnology or IntegrationAgreement signed November 2021 with Purisys for active psilocybin pharmaceutical ingredient (API). Multiple orders placed. Purisys is headquartered in Athens, Georgia, USA, and is a leading provider of API contract manufacturing and development services. High-quality API meets requirements for developing novel formulations, clinical trials, and commercialisation.
• HAVN Life SciencescoreOEM/ Whitelabel/ Licensing PartnerAgreement signed November 2021 for exclusive white label supply and distribution of HAVN's line of natural health products in Australia, New Zealand and China. Woke Health subsidiary launched retail and e-commerce footprint based on HAVN Life formulations. HAVN Life is a Canadian-based company pursuing standardised extraction of psychedelic compounds and mushroom extracts for natural health products.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• atai Life Sciences: Clinical-stage biopharma platform with multiple psychedelic programs across depression, anxiety, and addiction; comparable on a multi-asset psychedelic platform strategy, university partnership model, and indication breadth similar to Woke's pipeline.
• Compass Pathways: Clinical-stage psychedelic pharma company developing COMP360 psilocybin therapy for treatment-resistant depression; the most directly comparable peer in psilocybin formulation, Phase II/III execution, and indication overlap with WP002.
• MindMed: Clinical-stage psychedelic medicine company developing LSD-based therapies (MM-120 for anxiety) and psilocybin programs; comparable on psychedelic CNS pipeline, LSD analogue strategy (vs. Woke's WP003), and indication overlap in anxiety and depression.
• GH Research: Clinical-stage company developing GH001 (psilocybin) for treatment-resistant depression; comparable on psilocybin-based drug development targeting TRD, the same primary indication as Woke's WP002.
• Beckley Psytech: Clinical-stage psychedelic company developing short-duration psychedelic therapies (psilocybin, 5-MeO-DMT) for depression and other CNS indications; comparable on psychedelic CNS pipeline and proprietary formulation approach.
• Cybin: Clinical-stage psychedelic company developing deuterated psilocybin analog CYB003 and other tryptamine-based therapies for depression and anxiety; comparable on proprietary psychedelic analogue development and CNS indication focus.

Broad incumbents

• Sage Therapeutics: CNS-focused biopharma with Zurzuvae approved for postpartum depression; comparable on CNS drug development expertise, depression indication focus, and as an M&A/acquisition benchmark for late-stage depression assets like Woke's WP002.
• Johnson & Johnson (Janssen): Approved Spravato (esketamine) for treatment-resistant depression; a broad incumbent demonstrating commercial validation of psychedelic-adjacent CNS therapy and a key benchmark for reimbursement, prescriber adoption, and regulatory precedent that affects Woke's commercial opportunity.

Emerging players

• Field Trip Health: Operator of psychedelic-assisted therapy clinics (now pivoting) and developer of psychedelic formulations; comparable on the integration of psychedelic therapy delivery models, which is adjacent to Woke's clinical trial-based approach.

Others

• HAVN Life Sciences: Canadian functional mushroom extract and natural health product company and Woke Health's exclusive white-label supplier; comparable as the upstream supplier/distribution partner for Woke's supplement business, and as a broader psychedelic-adjacent public peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/woke-pharmaceuticals

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Woke Pharmaceuticals