Andreessen Horowitz Merges Fintech and Consumer Teams After Some Bets FizzleRead more

Love co-founders Ashwath Rajan, Ryan Breslow and JR Rahn. Photo by Julian Buitrago

Bolt’s Breslow Teams With Psychedelics Founder on Crypto Pharma Startup

Photo: Love co-founders Ashwath Rajan, Ryan Breslow and JR Rahn. Photo by Julian Buitrago

Bolt co-founder Ryan Breslow, who stepped down as the e-commerce software startup’s CEO after publishing a Twitter rant aimed at powerful Silicon Valley institutions, is taking another stab at startup leadership. This time he’s planning to develop drugs initially based on nutraceuticals, food-derived substances that have health benefits, to treat sleep and pain problems.

Breslow has founded the startup, Love Health, with JR Rahn, co-founder of MindMed, a publicly traded developer of psychedelic-based medicines, and Ashwath Rajan, who co-founded Stockwell AI, an ill-fated vending-machine startup formerly known as Bodega.

The Miami-based company plans to perform clinical trials to seek Food and Drug Administration approval for its drugs, which will focus on “solutions to the opioid crisis,” said Rahn, who is CEO, in an interview with The Information. Love will eventually expand to pharmaceuticals and has no immediate plans to use psychedelics, he said. In the future, the company may issue a cryptocurrency token to participants in its clinical trials.

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