Press Release: MAPS Announces Formation of New Public Benefit Corporation to Conduct Research and Sell MDMA by Prescription
Brad Burge, MAPS
Santa Cruz, Calif.—The Multidisciplinary Association for Psychedelic Studies (MAPS) is proud to announce the formation of the MAPS Public Benefit Corporation (MPBC), a new wholly owned subsidiary of MAPS. The special purpose of MPBC is to serve as a vehicle for conducting MAPS' research, and to balance social benefits with income from the legal prescription sale of MDMA, other psychedelics, and marijuana.
MPBC's primary work is completing Phase 2 studies of MDMA-assisted psychotherapy for posttraumatic stress disorder (PTSD), and preparing for the Phase 3 clinical trials required to develop MDMA-assisted psychotherapy into an approved treatment for PTSD. MAPS will continue to conduct education and harm reduction projects, to raise funds for MPBC projects, and serve as parent organization and sole funder of MPBC.
MPBC is a key part of MAPS' strategy to become a sustainable non-profit organization. MAPS currently projects Food and Drug Administration (FDA) and European Medicines Agency (EMA) approval for the prescription use of MDMA-assisted psychotherapy for PTSD in 2021. Once MDMA-assisted psychotherapy is approved, MPBC will manage prescription sales of MDMA, a taxable activity not possible with MAPS' 501(c)(3) designation. Research expenses incurred by MPBC will be used to reduce taxes on income received by MPBC from legal sales of MDMA. Income from prescription sales of MDMA will help fund further research and educational projects in accordance with MAPS' mission, reducing MAPS' reliance on donations over the long term.
The MPBC team is led by Amy Emerson (Executive Director/Director of Clinical Research), who has managed MAPS' clinical research programs since 2009. The majority of MAPS' clinical research staff has also joined the MPBC team. The MBPC Board of Directors is appointed by the MAPS Board of Directors, and currently includes Rick Doblin, Ph.D. (MAPS Founder and Executive Director), Allen Hopper (American Civil Liberties Union), and Matt Neal (Amgen).