The public reputation of pharmaceutical companies is far from positive. The priorities of a public pharma company is to make money for shareholders and not necessarily put the needs of patients first. The creation of a public benefit corporation (PBC) enables biotech’s to maximize the public benefits of the work they are doing. The mission of Multidisciplinary Association for Psychedelic Studies (MAPS) Public Benefit Corporation, a wholly-owned subsidiary of MAPS, is exactly that, as they work with MDMA and other psychedelics. They want global mass mental health.
The non-profit parent corporations, MAPS, mission is related to education, harm reduction, drug policy, and making MDMA and cannabis available in medical and spiritual contexts. MAPS PBC takes a more drug development approach. Taking psychedelics through regulatory pathways towards medicalization. MAPS PBC provides evidence showing safety and efficacy in a medical model. The benefit of that medical model is to allow for treatments to become more accessible for patients, having payers and insurance companies cover treatment.
MAPS PBC MDMA-Assisted Therapy Initiative
MAPS PBC is running a clinical development program for MDMA-assisted therapy to treat patients suffering from PTSD. Currently, they are in their second Phase III trial and should be releasing interim analysis mid-next year. MAPS is hopeful that these results will facilitate FDA approval in 2023 for this Breakthrough-designated therapy. The corporation will also be looking to add other indications using MDMA in the future.
The usual treatment for PTSD is the unpopular SSRIs. SSRIs manage symptoms rather than assisting with underlying problems. MDMA-assisted therapy uses the drug along with therapy.
“The therapy is a very important part of it. The MDMA, as the drug, is what opens people up to allow the therapy to work for PTSD. A new way to go through a drug development program with the FDA.” – MAPS PBC CEO Amy Emerson
Leading by Example
Where public pharma companies have to think about the bottom line, MAPS PBC can concentrate on developing medical treatments for people to benefit from the careful uses of psychedelics.
“The idea is that the decisions that you make should be driven by public benefit first over profit. And so we would like to encourage companies to set up in a similar way and do this different than the pharmaceutical industry has done in the past.” – MAPS PBC CEO Amy Emerson
Watch the full interview to learn how MAPS and MAPS PBC are catalyzing healing and well-being through psychedelic drug development, therapist training programs, and sales of prescription psychedelics.
00:00 – MAPS PBC CEO Amy Emerson
00:36 – Public Benefit Corporation & research
01:34 – MAPS research overview
02:25 – MDMA assisted therapy
03:34 – MAPS research success
06:02 – MAPS goals
08:00 – Investor opportunities in MAPS?
08:48 – MAPS views of psychedelic public companies
10:28 – Examples of positive psychedelic companies