Psychedelics Group Raises Million From Execs At GoDaddy, SpaceX And Others For MDMA Study

The nation’s leading psychedelics research organization announced on Thursday that it has raised $30 million in donations—including from several notable business leaders outside the drug policy realm—that will enable it to complete a study on using MDMA to treat post-traumatic stress disorder (PTSD). The Multidisciplinary Association for Psychedelic Studies (MAPS) said it will use those funds to conduct a Phase 3 trial on the substance, which is commonly called ecstasy, in hopes of gaining approval from the Food and Drug Administration (FDA). The federal agency has already designated MDMA as a “breakthrough therapy” based on findings from the group’s earlier trials. About 2,500 individual donors helped MAPS reach their fundraising goal within six months. Here are some of the notable contributors: -Bob Parsons, founder of GoDaddy ($2 million) -Blake Mycoskie, founder of TOMS Shoes ($1 million) -John Gilmore, cofounder of Electronic Frontier Foundation ($1 million) -David Bronner, CEO of Dr. Bronner’s ($800,000) -Joby Pritzker, managing director of Tao Capital Partners, board member of Marijuana Policy Project and cousin of Illinois Gov. J.B. Pritzker ($3 million) -Steve Jurvetson, board member of SpaceX and Tesla ($2.6 million) -Tim Ferriss, tech investor, author and podcaster ($1 million) Ferriss played a significant role in the fundraising campaign’s success, helping to secure an initial $10 million in philanthropic donations for a challenge grant. During a press conference, MAPS staff and donors talked about the challenges of fundraising amid the coronavirus pandemic, but they expressed optimism that, with this funding, they are nearing the finish line…

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Source : MJ moment
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