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An unusual drugmaker raises north of $100M for ecstasy-based PTSD therapy

January 5, 2024


A California-based company has raised tens of millions of dollars to support its mission of bringing an ecstasy-based therapy to patients with post-traumatic stress disorder.

MAPS Public Benefit Corp. formed a decade ago as a subsidiary of the Multidisciplinary Association for Psychedelic Studies, a nonprofit that both researches and promotes the use of psychedelics for mental health. In the years since, the subsidiary has developed a capsule of midomafetamine — known more commonly as MDMA or ecstasy — that it recently submitted for Food and Drug Administration approval.

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