Psychedelics Developer Secures $100M In Series A Funding, Will Support MDMA Approval To Treat PTSD
Portfolio Pulse from Maureen Meehan
MAPS Public Benefit Corporation, a subsidiary of MAPS, has raised over $100 million in Series A funding to support FDA approval of MDMA for PTSD treatment. The company will rebrand as Lykos Therapeutics. The investment reflects growing interest in psychedelic treatments for mental illnesses. Atai Life Sciences, Compass Pathways, and Cybin Inc. are also advancing in the psychedelic space with significant investments and acquisitions.
January 06, 2024 | 8:59 pm
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NEUTRAL IMPACT
Small Pharma, listed as DMTTF, was acquired by Cybin Inc., indicating consolidation in the psychedelic treatment sector.
As Small Pharma (DMTTF) has been acquired by Cybin Inc., its stock will no longer be independently traded, making the short-term impact neutral.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Atai Life Sciences invested $50 million in Beckley Psytech and holds a stake in Compass Pathways, indicating active involvement in the psychedelic treatment space.
Atai Life Sciences' recent investment and stake in Compass Pathways show a strong commitment to the psychedelic treatment market, which could positively influence investor sentiment and stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Compass Pathways raised up to $285 million for clinical trials using psilocybin for depression and is partially owned by Atai Life Sciences.
The substantial fundraising by Compass Pathways for its psilocybin trials, along with Atai Life Sciences' backing, suggests strong market confidence and potential for stock price appreciation in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Cybin Inc. acquired Small Pharma, a U.K.-based manufacturer of rapid-acting psychedelics, in an all-stock deal, expanding its presence in the psychedelic treatment market.
Cybin Inc.'s acquisition of Small Pharma could be seen as a strategic move to strengthen its position in the market, which may have a positive impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70