MAPS Public Benefit Corporation, formerly known as Lykos Therapeutics, has revealed the successful completion of its Series A financing campaign. The round was spearheaded by Helena Special Investments and raised over $100 million to support regulatory and pre-launch activities for MDMA-assisted therapy for PTSD (post-traumatic stress disorder).
Mission-Aligned Ownership with Philanthropic Foundations
The company now shares ownership with mission-aligned investors such as philanthropic foundations and impact investors. This collaboration means that MAPS will continue to make strides in psychedelic research, change drug policy, and help shape the culture surrounding these substances. As part of this agreement, MAPS maintains governance oversight of Lykos while appointing six out of eight members of its Board of Directors.
Developing Contexts for Careful Use of Psychedelics and Marijuana
One of the key objectives of MAPS is to focus on creating medical, legal, and cultural contexts for the careful use of psychedelics and marijuana. This approach ensures these substances are employed responsibly and safely in various treatment settings. By addressing the potential benefits and risks associated with the use of these drugs, MAPS hopes to promote a more informed dialogue around their implementation in mental health treatment plans.
Educational Expansion and International Outreach
In 2024, MAPS is planning to broaden its education efforts and strategize for Psychedelic Science 2025, a conference designed to bring together researchers, clinicians, and other experts in the field of psychedelic medicine. Additionally, MAPS intends to support psychedelic therapist education in communities outside the United States, helping to strengthen international connections and pave the way for more global collaboration in this rapidly evolving field.
Advocating for Drug Policy Reform and Government Funding
Beyond its research initiatives, MAPS is also actively engaged in advocating for drug policy reform and government funding for psychedelic investigations. By engaging with lawmakers, regulators, and other stakeholders, MAPS aims to change perceptions around psychedelics and encourage greater investment into these promising treatment options. In doing so, they hope to contribute substantially to a broader understanding of the potential therapeutic benefits of these substances.
A History of Success and Support
Founded in 1986, MAPS has received over $140 million in funding for psychedelic research and cultural initiatives. As a nonprofit organization, it has been instrumental in advancing understanding and awareness around psychedelic medicine, paving the way for its potential incorporation into mainstream healthcare settings. With this latest round of financing, MAPS can continue its mission to promote responsible psychedelic research and change public opinion about these valuable therapeutic tools.
Moving Forward: A Bright Future for Psychedelic Medicine
The successful completion of this Series A financing round signifies a milestone achievement for MAPS and the broader landscape of psychedelic medicine. By securing substantial funding, MAPS is empowered to continue leading the charge in exploring the therapeutic potential of these powerful substances. With a focus on nurturing medical, legal, and cultural contexts for their responsible use, as well as advocating for much-needed drug policy reform, MAPS is paving the way for a future where psychedelics play an integral role in mental health care.
Transforming Lives Through Psychedelic Therapy
As MDMA-assisted therapy for PTSD continues to make progress through regulatory processes and reaches closer to market launch, many more lives stand to be positively transformed by this promising treatment option. For those who have PTSD and other mental health challenges, the ongoing work of MAPS and its partners provides hope for more effective and innovative care in the future. With continued funding and support, the potential benefits of psychedelic medicine can be unlocked, ultimately changing the paradigm of mental health treatment worldwide.