Why it matters: The Steven & Alexandra Cohen Foundation has donated $5 million to the Multidisciplinary Association for Psychedelics Studies (MAPS), a nonprofit dedicated to researching the potential of psychedelic drugs for medical use. The grant will support research aimed at developing MDMA-assisted therapy for PTSD treatment.
What they are saying: The founder and president of MAPS, Rick Doblin, expressed gratitude to the foundation for its support, while Alexandra Cohen noted that psychedelic compounds offered a potential opportunity to address treatment-resistant conditions such as PTSD.
The big picture: The Steven & Alexandra Cohen Foundation has a demonstrated commitment to the promotion of psychedelic therapy, and has given nearly $19 million toward “psychedelic projects.” The foundation is one of the largest private funders of psychedelic research in the US.
What to watch: MAPS plans to submit a New Drug Application for MDMA-assisted therapy for PTSD to the FDA later in 2023. If the treatment is approved, the foundation will establish a financial assistance program for patients who face financial burdens due to lack of insurance coverage or means to pay out-of-pocket costs.
My take: The Cohen Foundation’s generous donation demonstrates a growing interest in and support for alternative therapies that may help treat treatment-resistant conditions such as PTSD. Further research and development of these therapies could offer new hope to individuals struggling with mental health conditions.
