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- Lykos Therapeutics
Lykos Therapeutics Funding, Investors & Competitors
Lykos Therapeutics has raised $150M across 2 funding rounds, most recently a $50M Series B in May 2025.
Last Lykos Therapeutics funding round
$50M
Series B · May 2025
Cumulative funding Lykos Therapeutics raised
$150M
across 2 funding rounds
Key investors in Lykos Therapeutics
KittyHawk
True Ventures
Vine Ventures
Satori Capital
Helena
Bail Capital
Unlikely Collaborators
CH Foundation
About Lykos Therapeutics
Lykos Therapeutics is a San Jose-headquartered clinical-stage biotech developing psychedelic-assisted therapies for mental health. The company's lead candidate MDMA is in Phase 3 trials for PTSD, supported by FDA breakthrough designation. Lykos conducts studies at sites across the US and Europe. Founded in 2014 as MAPS Public Benefit Corporation, it emphasizes therapist-guided protocols.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Lykos Therapeutics Funding History
Lykos Therapeutics has raised a total of $150M across 2 funding rounds.
Lykos Therapeutics' first fundraising round was a $100M Series A in January 2024. The most recent completed round was a $50M Series B in May 2025.
Lykos Therapeutics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| May 2025 | Series B | CH Foundation (lead); Garcia Family Foundation (lead); KittyHawk | $50M | Lykos Therapeutics, an MDMA drug developer, closed a $50M Series B recapitalization round in Q2 2025 from Antonio Gracias and Sir Christopher Hohn via their respective foundations (Garcia Family Foundation and CH Foundation). The company aimed to raise $100M total, with the remainder from existing investors, and the new investors were prepared to backstop the full amount if needed. This was described as a distressed deal but marked the largest cash injection into a private psychedelics company since Gilgamesh Pharmaceuticals' deal with AbbVie in Q2 2024. The round aligns with the specified investors and approximate date of late May 2025, fitting Q2 activity in the psychedelics sector, which saw reduced inflows compared to Q1 2025's $152M. Lykos had recent leadership changes, including a new CEO, CMO, and board addition of Amy Emerson. No sources provide post-money valuation, revenue, ARR, EBITDA, or valuation multiples for this round or proximate period. Lykos focuses on MDMA-assisted therapy, previously facing FDA denial of its new drug application for PTSD treatment. |
| Jan 2024 | Series A | Helena (lead); Bail Capital; Unlikely Collaborators; Vine Ventures; True Ventures; EIR Pharmaceuticals; Satori Capital; Steven & Alexandra Cohen Foundation; The Joe and Sandy Samberg Foundation; KittyHawk | $100M | Lykos Therapeutics, formerly MAPS Public Benefit Corporation (MAPS PBC), is a drugmaker developing MDMA-assisted therapy for PTSD, combining MDMA capsules with psychological interventions like talk therapy. The company submitted a New Drug Application to the FDA in late 2023, supported by positive late-stage clinical trial results published in Nature Medicine, showing reductions in PTSD symptoms and functional impairment. This marks the first FDA application for a psychedelic-assisted therapy, positioning Lykos for potential commercialization if approved. In early 2024, around January 5-10, Lykos announced an oversubscribed Series A financing round raising over $100 million, led by Helena (specifically Helena Special Investments), with participation from Bail Capital, EIR Pharmaceuticals (also listed as Eir Therapeutics), Kittyhawk Ventures (also KittyHawk), Satori Capital (also Satori Neuro), Steven & Alexandra Cohen Foundation, The Joe and Sandy Samberg Foundation (also Joe and Sandy Samberg Foundation), True Ventures, Unlikely Collaborators, Vine Ventures, and conversion of prior convertible notes. The funds are intended to support regulatory activities, pre-launch preparations, and initial commercialization efforts post-FDA approval, expected later that year. Suprotik (Protik) Basu from Helena joined the board, emphasizing the shift from development to commercialization. Prior to the round, a November 2023 SEC Form D filing listed a preliminary valuation of $215 million, but this did not reflect the post-Series A figure. The investment reflects growing interest in psychedelics from mission-aligned and impact investors, transitioning from philanthropy-heavy funding. CEO Amy Emerson highlighted the funding's role in advancing toward the first psychedelic therapy approval, while founder Rick Doblin praised Helena's balance of shareholder returns and public benefit, including support for nonprofit MAPS' global humanitarian efforts. Analysts estimate full commercialization could require $500 million to $1 billion, suggesting future rounds like a planned raise within 12 months of launch. |
Who has invested in Lykos Therapeutics?
12 investors have backed Lykos Therapeutics across its funding rounds, including KittyHawk, True Ventures, Vine Ventures, Satori Capital, Helena and Bail Capital.
Lead investors include CH Foundation, Garcia Family Foundation and Helena.
Lykos Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Jan 2024 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Lead | May 2025 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Participant | Jan 2024 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialLykos Therapeutics Competitors
Lykos Therapeutics competitors include listed companies like Johnson & Johnson, Shionogi and Eli Lilly, and private ones like NewLimit, MindMaze and BrightInsight.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $3.1B | - | ||
| Publicly listed | $94B | $40B | $651B | 6.8x | ||
| Publicly listed | $3.2B | $1.2B | $16B | 4.4x | ||
| Private | $8M | - | $1.5B | 187.5x | ||
| Private | - | - | $750M | - | ||
| Publicly listed | $65B | $28B | $1.0T | 13.1x |
Lykos Therapeutics Public Comps
Lykos Therapeutics is still privately-owned, but its public comps include Eli Lilly, Johnson & Johnson, AbbVie, Merck, Roche, Novartis, AstraZeneca, Amgen, Novo Nordisk and Gilead Sciences.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $65B | $28B | 16.5x | 13.1x | 38.7x | 27.0x | |||
| $94B | $40B | 7.2x | 6.8x | 17.0x | 18.3x | |||
| $61B | $17B | 8.7x | 8.1x | 30.6x | 17.6x | |||
| $65B | $28B | 6.3x | 6.2x | 14.7x | 21.0x | |||
| $77B | $26B | 5.0x | 4.9x | 14.6x | 12.4x | |||
| $57B | $22B | 5.5x | 5.5x | 14.2x | 13.3x | |||
| $59B | $19B | 4.8x | 4.5x | 14.6x | 12.7x | |||
| $37B | $17B | 6.8x | 6.5x | 14.8x | 14.4x | |||
This data is available for Pro users. Sign up to see all Lykos Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Lykos Therapeutics
| When was Lykos Therapeutics founded? | Lykos Therapeutics was founded in 2014. |
| Where is Lykos Therapeutics headquartered? | Lykos Therapeutics is headquartered in San Jose, CA, United States. |
| Is Lykos Therapeutics publicly listed? | No, Lykos Therapeutics is a private, VC-backed company. |
| How much funding has Lykos Therapeutics raised? | Lykos Therapeutics has raised $150M across 2 funding rounds. |
| What was Lykos Therapeutics' last funding round? | Lykos Therapeutics' last funding round was a $50M Series B in May 2025, led by CH Foundation and Garcia Family Foundation. |
| Who are Lykos Therapeutics' investors? | Lykos Therapeutics' investors include KittyHawk, Bail Capital, Unlikely Collaborators, Vine Ventures, True Ventures, EIR Pharmaceuticals, CH Foundation, Satori Capital, Steven & Alexandra Cohen Foundation, The Joe and Sandy Samberg Foundation and 2 others. |
| Which companies are comparable to Lykos Therapeutics? | Companies comparable to Lykos Therapeutics include NewLimit, Johnson & Johnson, Shionogi, MindMaze, BrightInsight and Eli Lilly. |
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