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Mar 27, 2026 Psychedelics
AlleyCorp's Methylone Startup Sold to Otsuka for Up to $1.2 Billion
Kevin Ryan's AlleyCorp helped found Transcend Therapeutics in 2021 to develop methylone — an MDMA analog — for PTSD. In March, Otsuka Holdings (TSE: 4578) agreed to buy it for $700 million upfront plus up to $525 million in milestones, a deal that closed in June. TSND-201, Transcend's lead compound, is the same one that picked up an FDA National Priority Voucher back in April — the fast-track program I wrote about here. It's Otsuka's second psychedelic-adjacent bet in three years, after its 2023 acquisition of Mindset Pharma.
Read at Otsuka Pharmaceutical