Antonio Gracias, Elon Musk’s close ally and Tesla (TSLA) board member, has pivoted to a controversial takeover of Lykos Therapeutics, a biotech firm developing MDMA-based therapies once rejected by the FDA for safety concerns, The Guardian reports .
As the psychedelics industry inches toward mainstream acceptance, new developments reveal how politics, science, and industry interests are shaping the future of mental health treatments.
But Gracias’ involvement in the regulatory body of the company he is now boosting is raising eyebrows, The Guardian reports.
Lykos, which announced a $50 million recapitalization earlier this year, has been at the front of pioneering some of the most promising research into MDMA-assisted therapy. But the firm’s recent FDA rejection of its clinical tr