Elon Musk ally leads attempt to seize control of psychedelic biotech Lykos
An Elon Musk ally is seeking to seize control of psychedelic drugmaker Lykos Therapeutics, offering it a financial lifeline for its bid to garner US approval to use the party drug ecstasy as a mental health treatment.
Antonio Gracias, an early Tesla backer and former board member who backed Musk’s takeover of Twitter, made a pitch to Lykos investors in recent weeks on a plan that would grant him a controlling stake in the company in return for $30mn in equity and $70mn in secured debt, three people with knowledge of the plan said.
Original Article (Politico):
Elon Musk ally leads attempt to seize control of psychedelic biotech Lykos
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