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Australian Billionaire Backs MDMA Development
Australian billionaire Andrew Forrest has announced plans to further back clinical biotechnology company Emyria (ASX:EMD) through his new $250M venture fund.
Previously, Mr. Forrest completed an initial investment of $5M into Emyria, which is advancing an MDMA clinical trial for PTSD and developing a variety of MDMA analogues in collaboration with the University of Western Australia.
The US FDA is expected to rule on an application for MDMA-assisted therapy in 2023, according to a recent Wall Street Journal report.
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