"Lykos Therapeutics Secures $100M for MDMA PTSD Treatment, Spearheads Legalization Efforts"
MAPS PBC, a company focused on psychedelic research, has successfully closed a $100 million Series A funding round and rebranded itself as Lykos Therapeutics. The rebranding avoids the abbreviation "MDMA-AT" to emphasize the importance of therapy in their approach. The funding and business model reflect a growing interest in the potential of psychedelics for therapeutic use, with investors looking for innovative ways to support nonprofits in the sector while retaining the option to convert donations into equity. The company's roots are deeply connected to the psychedelic community and intellectual thought, drawing inspiration from various sources including liberation theology and the works of Stan Grof and Ralph Metzner.