Antonio Gracias Leads Hostile Takeover Bid for MDMA Startup Lykos Therapeutics, Backed by $100 Million Funding and Rick Doblin

Jan 10, 2025, 05:38 AM

Lykos Therapeutics, a startup focused on MDMA-based therapies, is facing a hostile takeover bid led by Antonio Gracias, an early investor in Tesla. Gracias, who is allied with Maps founder Rick Doblin, aims to secure a controlling stake in the company with the support of Jeff Aronin, a prominent figure in the pharmaceutical industry and founder of Paragon Biosciences. The bid comes amid ongoing challenges for Lykos, including issues related to sexual abuse by therapists during clinical trials, which were highlighted during a recent FDA review. Additionally, Helena, which spearheaded Lykos's $100 million funding round last year, is reportedly seeking to sever ties between Lykos and the non-profit organization Maps, holding veto rights over any potential deal.