Mets Owner Steve Cohen Donates $5 Million In Support Of Psychedelics Research

A charity led by New York Mets owner Steve Cohen and his wife Alexandra donates millions of dollars to advance psychedelic drug research.

The Steven & Alexandra Cohen Foundation has provided a $5 million grant to the Multidisciplinary Association for Psychedelic Research (MAPS), a non-profit organization dedicated to researching the potential of psychedelic drugs for medical uses.

The grant will support “a vital mission support as we enter the final stages of the drug development process for MDMA-assisted therapies for the treatment of PTSD.” MAPS said in a press release on Wednesday..

“We are immensely grateful to the Stephen & Alexandra Cohen Foundation for their unwavering support in getting MDMA-assisted therapy into our pipeline and helping us move toward FDA approval. Our hearts are lifted by the efforts of , which is an important factor for us to bring healing to all.” Said Rick Doblin is the founder and president of MAPS.

MAPS said it plans to submit a new drug application to the FDA for MDMA-assisted therapy for PTSD later this year.

“Once a treatment is approved by the FDA, advocates and companies seek to integrate the approved treatment into the healthcare system. People who have been prescribed treatment but do not have insurance coverage or the means to pay their co-payments may face financial burdens to receive treatment,” the group said. This is Wednesday news. “This innovative grant will not only support MAPS’ mission today, but will also establish the foundation for financial assistance programs for patients if MDMA and other psychedelic adjuvant therapies are approved by the FDA. increase.”

“Millions of Americans, including veterans and paramedics, suffer from PTSD and other mental health conditions that affect their quality of life. “This is another opportunity to address symptoms and bring hope to patients,” said Alexandra Cohen.

Steve Cohen made his fortune as a hedge fund manager. According to Forbes, he is worth an estimated $17.5 billion. In 2020, he bought the Mets for $2.4 billion.

The Steven & Alexandra Cohen Foundation was established in 2001 to “advance health care and education for children, serve the underprivileged, support the arts, protect the environment, and advance research into Lyme and tick-borne diseases. We have donated $741.7 million to the charity.” Official website.

The foundation also has a strong commitment to promoting psychedelic therapy, calling itself “one of the nation’s largest private funders of psychedelic research.”

According to its website, The foundation has donated nearly $19 million to “psychedelic projects.” The foundation said it “committed more than $10 million in philanthropic support to the MAPS mission, including MAPS-sponsored clinical research into MDMA-assisted therapies.”

In 2021, the foundation gave “To fund a large study comparing two and three sessions of MDMA-assisted psychotherapy for veterans diagnosed with post-traumatic stress disorder (PTSD),” Mount Sinai, New York. donated $2.1 million.

“The Steven & Alexandra Cohen Foundation has been at the forefront of philanthropic work for the benefit of veterans. That’s where we can dedicate our efforts,” Rachel Yehuda, director of Mount Sinai’s Center for Psychedelic Psychotherapy and Trauma Research, said at the time. “We are extremely grateful for their support in our mission to revolutionize the treatment of trauma survivors with psychedelic psychotherapy and to better understand the mechanisms of resilience and recovery from trauma.”