TOMS founder Blake Mycoskie has announced a $100 million pledge in support of research into the medical and mental health benefits of psychedelics.

In an article in Newsweek, Mycoskie indicated that a majority of the funding would support research in and education about psychedelics, including MDMA, psilocybin, and plant-based materials such as ibogaine and ayahuasca, but that he also is seeking “investments that will propel breakthroughs via the private sector.” According to Mycoskie, the pledge is the largest individual commitment in psychedelic-assisted therapies. He details his own experience with depression and experiences with ayahuasca, a plant-based drink used by Indigenous peoples in Latin America. “The experience transformed me, reconnected me with my faith, and helped me cope with the pain I was feeling,” Mycoskie wrote.

As part of the pledge, Mycoskie aims to “ensure the FDA approves clinically tested psychedelic treatments to enable access to those treatments for those in need and to help identify new modalities of treatment.” He also pledged funding to train clinicians in the therapeutic use of psychedelics. Mycoskie noted that more than one in five adults in the country have a diagnosable mental illness.

“These promising medicines receive a tiny fraction of the funding that traditional pharmaceuticals and biotechnology get,” Mycoskie wrote, “which means that dollars invested in psychedelics today can make a meaningful difference in speeding lifesaving therapies to those in need.”

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