The most important non profit organization in the history of psychedelics has just launched their first ever for profit biotechnology company.

‍What’s happening:‍

• The Multidisciplinary Association for Psychedelic Studies, most commonly referred to as MAPS, has officially launched Lykos Therapeutics as a for profit biotechnology company to advance MDMA assisted therapies
  
• Lykos Therapeutics, which was formerly known as MAPS Public Benefit Corporation and previously wholly owned by MAPS, has raised $100M USD in a Series A round led by Helena, with participation from billionaire Steve Cohen’s family foundation, True Ventures and Satori Neuro
  

Why it matters:‍

• For decades, MAPS has been leading the psychedelic renaissance through their scientific research and advocacy efforts to attempt to make psychedelic compounds accessible to patients
  
• MAPS Public Benefit Corporation has been the longstanding leader in psychedelic science through their groundbreaking Phase III clinical trial of MDMA for the treatment of Post Traumatic Stress Disorder
  
• Launching Lykos Therapeutics as a for profit biotechnology company marks a potentially pivotal turning point for the future of MDMA assisted therapies being able to be commercialized in the near future
  

Going deeper:‍

• The majority of the new funding in Lykos Therapeutics will go towards preparing to commercialize MDMA assisted therapies, pending an official approval from the FDA
  
• MAPS will still continue to maintain oversight of Lykos Therapeutics through having significant control of the voting power within the company
  

The intrigue:‍

• Helena, the lead investor in this round, is a global problem solving organization which includes many notable members, such as Citadel’s Ken Griffin, Snapchat’s Evan Spiegel and legendary billionaire energy trader John Arnold