Lykos to cut 75% of workforce, founder to exit board after drug setback
Adds details and background throughout
Aug 15 (Reuters) -Lykos Therapeutics will layoff 75% ofits workforce and its founder Rick Doblin will be leavingthe board, the company said on Thursday, days after the U.S. FDA declined approval for its MDMA-based treatment for post-traumatic stress disorder.
Lykos, formerly known as MAPS Public Benefit Corp, said it was bringing in David Hough, former vice president for research and development at Johnson & Johnson JNJ.N, to lead and oversee clinical development of the MDMA capsules.
Hough spearheaded the development of J&J's nasal spray, Spravato, used to treatdepression in combination with an oral drug.
He joinsLykos days after the U.S. Food and Drug Administrationdeclined to approve its midomafetamine, or MDMA-based PTSD treatment, citing limited data.
Commonly known as ecstasy or molly, MDMA has long been seen by advocates as a potential treatment for mental health disorders.
The regulator's decisionwas in line with the recommendationsof its advisers, who flagged a lack ofdocumentation around whether trialparticipants had abused the experimentaldrug and problems with the trial design.
The company said it planned to ask the FDAto reconsider its decision and would attempta resubmission seeking approval for the MDMA capsules.
Jeff George, chairman of the Lykos board, said Hough was "the right person" to lead the crucial work of engaging with the FDA for the resubmission.
Lykos founder Doblinsaid he would continue to work towards developing global access to MDMA, adding he could speakfreely as a public advocate by resigning from the company's board.
Lykos said it plannedto cut 75% of it workforce, but did not provide details about the number, nature or location ofjobs that would be affected. It did not immediately respond to a Reuters requestfor details.
The company said theremaining 25% of its workforce wouldfocus on developing the MDMA-based capsules and engaging with the FDA about next steps in the resubmission process.
Reporting by Christy Santhosh in Bengaluru; Editing by Pooja Desai
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
