MDMA trials get a $4 million donation from Bitcoin millionaire
Phase 3 of the MDMA trials in the treatment for PTSD just got a major hand up.
The Multidisciplinary Association for Psychedelic Studies (MAPS) are leading trials in order to get FDA approval for the treatment of PTSD through MDMA-assisted psychotherapy.
After years of trials yielding positive results, the FDA agrees that this form of treatment “may have a meaningful advantage and greater compliance over available medications for PTSD,” MAPS said in a press conference.
The trials are now in Phase 3 of the road to approval, but the toll is not cheap. MAPS must raise $25 million dollars in order to complete the Phase, which is no easy feat considering they rely solely on donations.
Bitcoin backing
One Bitcoin millionaire, who goes by ‘Pine,’ has promised to donate $4 million towards the trials-if MAPS can match the amount in funding by March 10, 2018.
This is a massive grant and will help see MDMA get one step closer to being accepted for the treatment of PTSD through MDMA-assisted psychotherapy.
A statement from the Pine reads:
“PTSD is a severe condition that affects everyone from sexual assault survivors to military veterans.
“MDMA-assisted psychotherapy has shown great promise. We’re offering the matching grant because we think the psychedelic and cryptocurrency communities can work together to finish funding Phase III clinical trials.”
Task and Purpose reported that Pine announced ‘The Pineapple Fund’ on Reddit in December, a charity initiative giving out Bitcoins.
Pine has given out $20 million in Bitcoins to 23 charities.
A statement from MAPS founder and Director, Rick Doblin, reads:
“The [cryptocurrency] community is helping to lead the way, not only in decentralized technologies and currencies, but in giving the gift of MDMA-assisted psychotherapy to the world in order to heal trauma and bring greater compassion to psychiatry and medicine,”
If you would like to donate to MAPS and the MDMA trials, go to their website.
