San Jose, Calif. – On January 5, 2024, MAPS Public Benefit Corporation – now Lykos Therapeutics – an industry pioneer in mental healthcare innovation, celebrated an oversubscribed Series A financing round which raised over $100 million. Led by Helena and backed by multiple mission-align investors and institutional partners, this breakthrough marks a pivotal shift for MAPS PBC; concurrent with this financial success it also signaled its transition into Lykos Therapeutics which could become potentially the first FDA-approved psychedelic-assisted therapy therapy within healthcare systems worldwide.
Investor Confidence in Psychedelic Science
Helena, a global problem-solving organization, led this funding round, demonstrating strong investor faith in psychedelic-assisted therapies. Their investment portfolio included names like Steven & Alexandra Cohen Foundation, Eir Therapeutics and Vine Ventures that demonstrated strong financial backing.
Amy Emerson, CEO of Lykos, noted the timely nature of this funding as her company transitions from developmental to commercial stages, especially as they prepare to launch an innovative treatment modality into market. Rebranding the company as Lykos (Greek for “wolf”) symbolises their values of courage and intelligence.
Board Restructuring and Vision.
Forming an eight-member board at Lykos with appointees from MAPS and Helena resident Protik Basu as its leader is an intentional move designed to guide it through this transformational period. His expertise in public health financing is particularly invaluable while Lykos navigates regulatory requirements and prepares for market entry.
Potential Game-Chainer for Treating PTSD
Lykos’ primary area of expertise lies in MDMA-assisted therapy for posttraumatic stress disorder (PTSD). This innovative therapy combines MDMA with psychological intervention and support services for an innovative treatment method that could revolutionize care. Lykos has conducted two Phase 3 trials with this modality and submitted an NDA with the FDA, positioning themselves at the forefront of potentially revolutionizing care for PTSD sufferers.
Significant is this development due to its potential effect on an estimated 13 million Americans with posttraumatic stress disorder (PTSD). With 60 days for FDA review of NDA submissions, healthcare community stakeholders await what may prove an iconic approval in mental health treatment.
MDMA-Assisted Therapy: Exploring New Horizons
MDMA-assisted therapy is an innovative approach to treating posttraumatic stress disorder (PTSD). This therapy stands apart from more traditional approaches by harnessing MDMA’s entactogenic properties to facilitate introspection and personal reflection during therapy sessions. Results of studies such as MAPP1 and MAPP2, published in Nature Medicine, demonstrate both its efficacy and safety.
Lykos Commitment to Mental Health
As a public benefit corporation, Lykos remains committed to revolutionizing mental healthcare. Building upon over three decades of psychedelic research, they balance societal impact with financial objectives in an innovative fashion. Rebranding and recent financial developments demonstrate their dedication towards finding innovative mental health solutions.
Helena’s Broader Impact
Helena isn’t solely focused on financial investments; their extensive history in addressing societal challenges from biosecurity to pandemic response has contributed significantly to their partnership with Lykos. Their growing interest and belief in psychedelic science as an approach for treating mental health conditions attest to this growing belief in their power as potential solutions.
Looking Ahead
Lykos Therapeutics’ recent Series A financing and impending FDA decision mark an historic moment for both Lykos Therapeutics and the wider psychedelic science market. If MDMA-assisted therapy for PTSD were to become approved, this could mark a breakthrough moment for mental health treatment, offering hope to millions. As the market awaits regulatory decisions, Lykos stands poised to lead an important shift in how mental disorders such as PTSD are managed.
For additional information, visit Lykos Therapeutics at www.lykospbc.com