MAPS - Psychedelics Developer Secures $100M In Series A Funding Will Support MDMA Approval To Treat PTSD | Benzinga
A decade after it was founded as a wholly-owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), MAPS Public Benefit Corporation has secured over $100 million in a Series A private stock sale. The funds will support the final stages of its application for regulatory approval to sell MDMA, also known as ecstasy, as a treatment for post-traumatic stress disorder (PTSD).
MAPS has incubated the only psychedelic-assisted therapy research program that has completed two successful Phase 3 studies and submitted a New Drug Application to the FDA.
In addition to the Series A financing, led by Helena — the foundation funded by hedge-fund manager Joe Samberg — the organization will change its name change to Lykos Therapeutics.
"We are profoundly grateful to partner with Protik Basu and the rest of the Helena team of mission-aligned investors who understand our prioritization of public benefit and deeply care ...