Eywa Biotech: Uruguayan innovation attracting Silicon Valley and redefining the future of mental health

In an ecosystem that continues to position Uruguay as a regional hub for biotechnology, Eywa Biotech has reached a new milestone: the company closed a US$2.5 million seed round led by legendary U.S. investor Tim Draper, known for his early bets on Tesla, SpaceX, Skype, and Coinbase.

The announcement, reported by Ámbito and La Nación, reaffirms Uruguay’s growing appeal to international capital in the field of life sciences.

Founded in Montevideo in 2022 by Uruguayan scientist Paola Rodríguez Camarot and Argentine entrepreneur Victoria Costa Paz, Eywa Biotech develops clinical-grade psychedelic compounds, such as psilocybin, for the treatment of mental health conditions including resistant depression, anxiety, and post-traumatic stress disorder.

“The fact that a leading figure like Tim Draper is heading this investment round in a Latin American startup founded by women sends a powerful message: the future of hard science and mental health can also be built from here,” Costa Paz told La Nación.

A Uruguayan biotech with global reach

Eywa operates its main laboratory in Uruguay, where a team of 13 scientists is developing a sustainable biotechnological process to produce psychoactive molecules without relying on the extraction of natural fungi—cutting costs and production times by up to fivefold compared to traditional methods (Ámbito).

Its model combines synthetic biology, genetic engineering, and sustainability, achieving biosynthesis cycles of one to two days under Good Manufacturing Practice (GMP) standards. The company has already signed letters of intent with pharmaceutical companies and research centers in Latin America, North America, and Australia, where the medical use of psilocybin is advancing rapidly.

“This funding brings us closer to a greater goal: democratizing access to therapies that can transform the lives of millions of people,” Costa Paz told Ámbito. “We want Eywa Biotech to be synonymous with quality, trust, and sustainability when psilocybin is approved in more countries.”

Uruguay: a trusted platform for life sciences

The decision to establish Eywa’s scientific operations in Uruguay was no coincidence. The country offers advanced research infrastructure, highly skilled talent, and strong innovation incentives, which have made it a regional hub for the pharmaceutical, biotechnology, and animal health industries.

More than 50 manufacturing plants, 20 pharmaceutical companies, and renowned research centers—such as the Pasteur Institute of Montevideo, the University of the Republic, the Pando Science and Technology Park, and the Clemente Estable Biological Research Institute (IIBCE)—make up an environment where science and business converge in a model of open innovation.

The Uruguay Innovation Hub (UIH) also supported Eywa through a joint investment with The Ganesha Lab, contributing US$100,000 under a matching funds scheme to accelerate the development of mental health compounds (Ámbito).

These conditions explain why international companies continue to choose Uruguay as their regional base of operations, and why more than 30 Uruguayan biotech startups are now developing solutions for human and animal health, reinforcing the country’s status as a reliable platform for global scientific innovation.

Looking ahead

With the new funding, Eywa plans to scale industrial production to 200 liters, achieve GMP certification, develop new patents, and expand commercially across Latin America, North America, Europe, and Australia, according to La Nación.

“Mental health is a global challenge: millions of people need new solutions, but traditional treatments are not always enough. With clinical-grade psilocybin, we aim to open a new chapter in mental health care—accessible, sustainable, and humane,” Costa Paz told Ámbito.

From its laboratory in Montevideo, Eywa Biotech represents a new generation of Uruguayan ventures competing at the frontiers of science and attracting world-class venture capital.

Together with other success stories such as MetaBIX Biotech, Eywa demonstrates that Uruguay not only exports innovation but is also emerging as a reliable hub for science-driven business and talent in Latin America.