A New Name, A Symbolic Meaning
With its new name, Lykos Therapeutics draws inspiration from the Greek word "lykos," meaning wolf. The choice of this name reflects the qualities of bravery, courage, loyalty, and intelligence that the company embodies.
Leading Investors Back Lykos Therapeutics
Helena, a global problem-solving organization and investor, led the $100 million financing round for Lykos Therapeutics. Other notable participants include the Steven & Alexandra Cohen Foundation, Eir Therapeutics, KittyHawk Ventures, Bail Capital, Satori Neuro, Vine Ventures, The Joe and Sandy Samberg Foundation, True Ventures, and Unlikely Collaborators Foundation.
A Journey Rooted in Psychedelic Studies
Lykos Therapeutics is headed by Chief Executive Amy Emerson. Her involvement with the Multidisciplinary Association for Psychedelic Studies (MAPS) since 2003 paved the way for her consulting work with MAPS Public Benefit Corp. In 2014, MAPS Public Benefit Corp. was established to specifically focus on the development of psychedelic drugs.
Advancing MDMA-Assisted Therapy for PTSD
Following two successful Phase III trials for MDMA-assisted therapy, MAPS Public Benefit Corp. recently submitted a new drug application to the FDA last month. This significant milestone places Lykos Therapeutics on the path towards commercialization for MDMA-assisted therapy.
Lykos Therapeutics emphasizes that the $100 million funding round is crucial in supporting their transition from a development-stage company to a stage of commercialization for their breakthrough PTSD treatment.
Transforming Mental Health: Helena Basu Joins Board of Lykos Therapeutics
Helena Basu, the Managing Partner of Suprotik (Protik) Basu, brings over 20 years of experience in public-health financing projects to the board of Lykos Therapeutics. With a recent strong funding round, along with positive Phase III results and a new drug application submission to the FDA, Lykos is poised to address the significant unmet need in mental health.
Targeting the estimated 13 million Americans suffering from PTSD, Lykos aims to make a difference in their lives. The company's dedication to transforming mental health and providing effective solutions is evident in its recent developments.
Emerson, a former employee of Novartis NVS, Chiron, and other leading pharmaceutical companies, is an integral part of the Lykos team. This team's expertise, combined with strong financial backing from Ambria Capital, has led to positive anticipation of FDA approval for the therapy by August.
Lykos's focus will then shift towards establishing the necessary clinical infrastructure to offer PTSD therapy with MDMA, commonly known as molly or ecstasy. MDMA has already been granted "breakthrough therapy" status by the FDA, highlighting its potential for significant impact.
It's important to note that MDMA will only be administered in a therapeutic setting under the careful guidance of professionals. By avoiding its recreational use, Lykos aims to ensure the drug's effectiveness and prevent it from being misused on the illicit market.
MDMA, an entactogen compound and part of a class of psychoactive substances, sets itself apart from classic psychedelics. Its unique properties increase self-awareness, leading to introspection and personal reflection.
Lykos Therapeutics is making remarkable strides in transforming mental health care in America, and with Helena Basu joining the board, their journey is set to reach new heights.
Also read: Why the founder of the shoe brand Toms is pledging $100 million to psychedelic research