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Big Idea:
Lykos Therapeutics, formerly known as MAPS Public Benefit Corp., has raised over $100 million to advance a MDMA-based treatment for PTSD.
Why It Matters:
Treating mental health conditions, especially PTSD, persists as a challenge due to inadequate existing treatments. High dropout and low response rates, along with many patients retaining PTSD diagnosis after treatment, highlight the need for new, out-of-the-box therapies.
Key Details:
- The psychedelic drugs market is projected to reach USD $10.75 Billion by 2027, growing from USD 4.75 Billion in 2020.
- Lykos Therapeutics has developed an MDMA-based therapy for PTSD, showing promising results in two late-stage clinical trials.
- This therapy could address the high nonresponse and dropout rates in current PTSD treatments, benefiting an estimated 13 million Americans suffering from the condition.
"Our North star is to fundamentally change how the healthcare system holistically treats people with mental health conditions. We are working to articulate what it means to be a leading public benefit organization in the pharmaceutical space," Lykos Therapeutics, CEO Amy Emerson wrote.
What’s Next:
The future includes FDA approval processes, with a decision expected by mid-February on Lykos' application review. If approved, Lykos must integrate MDMA for therapeutic use, potentially by late 2024.
Dive Deeper:
The FDA's draft guidance in 2023 on psychedelic drugs and the successful fundraising of companies like COMPASS Pathways demonstrate an increasing openness to these unconventional treatments. The success of Johnson & Johnson’s Spravato, a ketamine-based treatment for depression, is another example and projects $725 million in annual sales.
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Big Idea:
Nexus Development Capital has invested $5 million in Standard Biocarbon, a pioneer in biochar production utilizing 100% sustainably sourced wood chips, to advance scalable carbon capture technology and soil improvement, transforming waste and biomass into climate-beneficial material.
Why It Matters:
Biochar's potential in carbon sequestration is on the rise, with the global market value reaching $702 million in 2023. Its effectiveness in trapping carbon dioxide and enhancing soil quality makes it effective in climate solutions. The International Biochar Institute estimates biochar could capture up to 3 billion metric tons of CO2 annually, reducing global emissions by as much as 6%.
Key Details:
- Biochar is a charcoal-like material made from plant residues, such as agricultural waste, transformed at high temperatures into an energy-producing, renewable resource.
- Standard Biocarbon's advanced biochar production facility utilizes biomass, such as wood or crop waste, to create a stable carbon sequestration solution.
- Standard Biocarbon's facility in Maine, backed by Nexus Development's investment, is set to produce 16,000 cubic yards of biochar annually, capturing 3,000 tons of carbon.
- The project enhances carbon capture technology and offers a range of environmental benefits, including soil improvement and hazardous waste remediation.
Joshua Kaufman, CEO of Nexus Development Capital said: “Biochar is one of the most cost-effective and commercially ready approaches for removing CO2 from the atmosphere. Scaling these types of carbon removal facilities is now one of our biggest opportunities. We see Standard Biocarbon as one of the first to bring these in-demand carbon sequestration solutions online to meet the huge appetite across multiple sectors.”
What’s Next:
The facility, starting operations in 2024, aims to boost biochar technology. As biochar production scales, monitoring competing technologies like direct air capture or synthetic methods is vital to adapt to shifts in carbon capture solutions.
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Big Idea:
The two-dimensional supercrystal technology developed at Ludwig Maximilian University is capable of generating hydrogen from formic acid using sunlight. Using plasmonic nanostructures to concentrate solar energy efficiently, these structures, made from a plasmonic metal (gold in this case), interact strongly with visible light, enhancing energy absorption.
Why It Matters:
The nanomaterial offers a new method to harness sunlight and photocatalysts, allowing light energy to be directly utilized for chemical reactions without the need to generate electricity. This contributes to sustainable hydrogen production without the need for fossil fuels and has broader applications in reactions such as converting CO2 into usable substances.
Key Details:
- Supercrystals use plasmonic and catalytic metals, such as gold and platinum, to concentrate solar energy, creating hotspots that drive efficient chemical reactions for hydrogen production.
- The supercrystal technology achieved a world record for green hydrogen production from formic acid using sunlight, demonstrating a rate of 139 millimoles per hour per gram of catalyst.
"Where the high-energy particles of sunlight meet atomic structures is where our research begins," says Emiliano Cortés, lead researcher. "We are working on material solutions to capture and use solar energy more efficiently."
What's Next:
We can expect continued research focused on enhancing the efficiency and scalability of these nanostructures.
Dive Deeper:
This breakthrough can offer an alternative to established methods such as photovoltaic and electrolysis-based hydrogen production in the clean energy sector. If produced at scale and affordably, supercrystals might reduce hydrogen production costs and become more widely available.
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