MAPS Public Benefit Corporation Announces Oversubscribed Series A Financing and Renames to Therapeutics
Summary
Funding comes from mission-aligned and institutional investors to support regulatory and pre-launch activities for investigational MDMA-assisted therapy for post-traumatic stress disorder (PTSD) Company rebrands and changes name to reflect its new stage of focusthe integration of the potential first psychedelic-assisted therapy into the healthcare system if approved by FDASAN JOSE, Calif., January 5, 2024 MAPS Public Benefit Corporation (MAPS PBC), a company dedicated to transforming mental healthcare, announced an oversubscribed Series A financing. This strong funding round, combined with the Phase 3 results and recent new drug application submission to the FDA, position Lykos to continue its journey to help transform mental health, and to help address the large unmet need for the estimated 13 million Americans who suffer from PTSD1, should this investigational drug used in combination with therapy be approved by the FDA.New Name and IdentityAs the Company transitions from a research-stage company to a public benefit corporation focused on integrating new therapies, if approved by the FDA, into the healthcare system, it is rebranding and has changed its name to Lykos Therapeutics. Both MAPP1 and MAPP2 studies met their primary and secondary endpoints and were published in Nature Medicine.5,6 This new funding will help enable Lykos to finish regulatory and pre-launch activities for investigational MDMA-assisted therapy for PTSD. The safety and efficacy of MDMA-assisted therapy have not been established for the treatment of PTSD.Helena is a global problem-solving organization that seeks to implement solutions to critical societal challenges through nonprofit, for-profit, and legislative actions. HSI is led by Managing Partners, Henry Elkus, Sam Feinberg and Suprotik Basu.Helenas nonprofit projects have included America in One Room, which garnered the attention of The New York Times and President Barack Obama; Biosecurity in the Age of AI, which focuses on risks emerging at the intersection of AI and biotechnology; and The COVID Project, which supplied tens of millions of units of personal protective equipment to frontline responders during the COVID-19 pandemic.At Lykos, formerly MAPS PBC, our mission is to transform mental health care.