Psy­che­del­ic-as­sist­ed drug de­vel­op­er MAPS PBC nabs $100M, re­names to Lykos Ther­a­peu­tics

MAPS Pub­lic Ben­e­fit Cor­po­ra­tion, a Cal­i­for­nia biotech at­tempt­ing to bring MD­MA-as­sist­ed ther­a­py to mar­ket for men­tal health con­di­tions, said it has raised more than $100 mil­lion in Se­ries A fund­ing a month af­ter sub­mit­ting its drug for FDA ap­proval.

Part of the in­vest­ment comes from pre­vi­ous­ly is­sued con­vert­ible notes, it said Fri­day morn­ing. Last sum­mer, the Wall Street Jour­nal re­port­ed that MAPS was “strapped for cash.”

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