Cohen Psychedelic Research & Health Initiative
Cohen Foundation Awards $5 Million for MDMA Therapy Approval
Millions of Americans suffer from depression, anxiety, addiction, post-traumatic stress disorder (PTSD), Alzheimer’s, and other mental health conditions. Unfortunately, too often the current treatment approaches have limited effectiveness resulting in lifetimes of unbearable symptoms, lowered quality of life, and high rates of mortality.
However, psychedelic compounds present a new opportunity for addressing these treatment-resistant conditions. Based on early studies, psilocybin, the active ingredient of “magic mushrooms”, has positive and long-lasting effects on some of the most debilitating and chronic medical conditions, including addiction, anxiety, and major depression. Similarly, in a study of MDMA-assisted psychotherapy, approximately two-thirds of patients with treatment-resistant PTSD no longer met the diagnostic criteria for PTSD at the one-year follow-up.
Research on these psychedelic compounds has been postponed for decades while millions of Americans have profoundly suffered. It’s time to unlock the potential of psychedelic medicine and improve the lives of patients and their families.
Currently, the Foundation is one of the largest private funders of psychedelic research in the country as we push to fund ground-breaking projects and bring hope to patients with these devastating conditions.
Steve and Alex Cohen Foundation
GIVEN TO PSYCHEDELIC PROJECTS $31,343,636
Cohen Foundation Awards $5 Million for MDMA Therapy Approval
June 2023.
The Multidisciplinary Association for Psychedelic Studies (MAPS) has announced a $5 million grant from the Steven & Alexandra Cohen Foundation in support of the approval process of an MDMA-assisted therapy for the treatment of post-traumatic stress disorder (PTSD).
MDMA is the psychedelic compound methylenedioxymethamphetamine, commonly known as ecstasy or molly. MAPS Public Benefit Corporation, a MAPS subsidiary, plans to submit an application to the Food and Drug Administration to approve MDMA-assisted therapy later this year. If the treatment is approved, MAPS will work to integrate the approved therapy into the healthcare system.
In addition, the grant will help establish a financial assistance program for patients. According to MAPS, a high proportion of people seeking mental healthcare treatments and therapies are without insurance coverage or the means to pay for treatment.
“Millions of Americans, including our veterans and first responders, suffer from PTSD and other mental health conditions that affect their quality of life,” said Cohen Foundation president Alexandra Cohen, whose husband, Steven, is a hedge fund manager and owner of the New York Mets. “Psychedelic compounds represent a new opportunity to address these often treatment-resistant conditions and bring hope to patients.”
