There’s a new research study for MDMA set to happen. And it’s being funded by a surprising source: the United States government.
What’s happening:
- The United States Department of Veterans Affairs has announced they are committing $1.5M USD to funding a new study focused on MDMA assisted therapy for treating PTSD and alcohol use disorder in veterans
Why it matters:
- This is the first study on psychedelic medicines that has been funded by the Veterans Association in more than seven decades
Going deeper:
- The new study will be conducted by researchers affiliated with Brown University and Yale University and will span over half a decade
- Psychedelic medicines are still yet to achieve a formal approval from the United States Food and Drug Administration, which many are hopeful will start to change soon with more and more Phase III clinical trials beginning to launch
The intrigue:
- Pharmaceutical giants have also been starting to place bets on psychedelic medicines, with AbbVie (NYSE: ABBV) previously entering into a notable deal with Gilgamesh Pharmaceuticals to begin research and development efforts for new psychedelic compounds
