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
