Dave5

The financialisation of psychedelics is going to set the whole field back, long term, almost as muc has banning the substances.

The Multidisciplinary Association for Psychedelic Studies (MAPS) has reversed course on its long-held commitment to retain full ownership of its pharmaceutical development arm. On Jan. 5, MAPS Public Benefit Corporation (MAPS PBC) announced that it had completed a Series A funding round of $100 million and changed its name to Lykos Therapeutics, a privately held firm. 

The decision to accept outside investment in MAPS PBC makes a mockery of a decade of fundraising messaging deployed by the MAPS nonprofit since the PBC’s founding in 2014.