New CEO Tapped as Gracias and Hohn Close In on Lykos Takeover

A deal that would see a fresh shot of capital injected into MDMA drug developer Lykos Therapeutics is nearing completion, with insiders saying the first phase of the deal could close any day soon.

According to information obtained by Psychedelic Alpha, the initial $50 million tranche will be split evenly between Elon Musk ally Antonio Gracias and ‘Europe’s most feared investor’ Sir Christopher Hohn. Once that’s closed, an additional $50 million could be raised from existing investors, such as those who participated in the Series A round. If those funds don’t materialise, insiders say Gracias and Hohn are prepared to backstop the full $100 million.

We first broke the news of billionaire investor and Musk ally Antonio Gracias’ intent to take over the company in January (Billionaire Investor Antonio Gracias Plots $100M Lykos Takeover with Doblin’s Backing). Then, in March, we broke the news that British decabillionaire investment manager and philanthropist Sir Christopher Hohn had joined the fray (‘Europe’s Most Feared Investor’ Teams Up with Musk Associate to Fund Lykos Therapeutics).

The investment is expected to be tied to significant changes to both the company’s board and C-suite. That includes a new CEO, replacing Michael Mullette, who filled the role on an interim basis.

The incoming CEO has held executive positions at companies affiliated with Jeff Aronin, a close associate of Gracias, we understand...