Michael Mullette, a former Moderna (NASDAQ:MNRA) vice president is taking a senior leadership position in the MAPS Public Benefit Corporation, a biotech company in the psychedelics sector.
The MAPS PCB is a for-profit company wholly owned by the Multidisciplinary Association for Psychedelic Studies, a nonprofit founded in 1986 to advance patient access to psychedelic drugs for therapeutic and medical use.
Mullette will serve MAPS PCB as chief operating officer. His main duties will include developing and executing a strategy for global expansion and global commercialization of MDMA-assisted therapy.
MAPS is currently leading the most advanced commercial clinical pipeline in the field of psychedelic medicine, with an ongoing phase 3 trial on MDMA (also known as ecstasy or molly) in the treatment of post-traumatic stress disorder.
Related: MAPS And The Road To FDA Approval For MDMA
FDA approval of the treatment is expected for early 2023 or sooner, according to the organization. Approval will grant MAPS exclusive license to commercialize the drug for five to seven years.
“Mike is a highly talented, effective, and mission-driven leader who has repeatedly built teams and organizations that succeed in the face of big and novel challenges, most recently in his work at Moderna,” said Amy Emerson, CEO of the MAPS Public Benefit Corporation.
Related: World's First Phase 3 Clinical Trial On MDMA Shows 'Powerful New Pathway To Healing'
Mullette most recently served as the Vice President and Managing Director of North America for Moderna, where he oversaw the commercialization of the company’s COVID-19 vaccine during the height of the pandemic.
“With Mike, MAPS PBC is taking another major step in building a world-class pharmaceutical organization capable of meeting the enormous need for novel treatments for PTSD and other mental health conditions,” added Emerson.
Photo by Nataliya Vaitkevich from Pexels.
