Issue 162

MAPS PBC raises $100m and rebrands to Lykos

A decade after it was founded as a wholly-owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), MAPS Public Benefit Corporation has announced the successful close of an oversubscribed Series A financing of more than $100 million.

It has also announced its name change to Lykos Therapeutics along with a new visual identity.

Fede Menapace, MAPS Deputy Director, stated: “For most of MAPS’ existence, the stigma associated with psychedelic compounds made it impossible to fund MAPS’ clinical research through government grants or traditional investment models. Our courageous and generous donors stepped up to advance psychedelic research, change drug policy, and shape culture.

“In a testament to Lykos’ remarkable progress in its research program, investors joining our cause are making it possible to build the commercial infrastructure required to deliver MDMA-assisted therapy to many in need, if FDA-approved.”

2024: PREDICTIONS FOR PSYCHEDELICS

Forbes explores predictions for the world of psychedelic medicines in 2024.

The top prediction is MDMA and/or psilocybin getting through FDA trials and being rescheduled in the Controlled Substances Act.

“Psychedelic magazines, websites, influencers, conferences, and film/tv will explode onto the scene in 2024.”

BECKLEY PSYTECH RECEIVES $50M FROM ATAI

Beckley Psytech has confirmed it has received a strategic investment of USD$50 million from atai Life Sciences.

The investment will accelerate the development of Beckley Psytech’s two clinical-stage, patent-protected, short-duration psychedelic candidates, BPL-003 and ELE-101, through their inclusion in atai’s mental health innovation platform.

BUSINESS AND INVESTMENT

MindMed has published milestones for 2024, including plans to share 12-week results from its Phase 2b study on MM-120 in GAD by the end of Q1 2024.

MAPS PBC has confirmed that the American Medical Association CPT III codes for psychedelic therapies, first announced in July 2023, are now in effect.

Cybin has announced positive topline data from its Phase 1 studies of its proprietary deuterated DMT molecules CYB004 and SPL028.

Silo Pharma and Medspray Pharma BV have received regulatory approval to begin the development of a ketamine implant for Fibromyalgia.

SCIENCE AND RESEARCH

New study results have demonstrated the safe and effective results of psychedelics in curbing depression in cancer patients with resistance to current treatments.

Researchers from the University of Saskatchewan are researching the history of psychedelic drugs, reports Street Insider.

A study published in Nature Medicine involving special forces veterans has revealed promise for ibogaine to treat combat-related trauma.

Health psychiatrist Walter Dunn discusses the potential of psychedelic-assisted therapy at the annual Integrative Medicine Symposium for UCLA.

REGULATION AND LEGISLATION

State-regulated psychedelics are on a collision course with the FDA, suggests Mason Marks in JAMA Network.

Lexology explores progress for research funding on psychedelics for Military Personnel and Veterans/First Responders

ARTICLES OF INTEREST

New figures show that UK police officers are at breaking point with record numbers off work due to mental health problems such as depression and PTSD.

A new report from Romania’s Economic and Social Council has revealed that untreated mental disorders cost USD$11 billion in 2022.