The state of Texas approves $50M for ibogaine trials

Texas Ibogaine Initiative, Texas Launches Largest Publicly-Funded Psychedelic Research Initiative in History with $50 Million Investment in Ibogaine, CISION PRWeb, May 22, 2025.

AUSTIN, Texas, May 22, 2025 /PRNewswire-PRWeb/ -- In a historic and bipartisan move, the State of Texas has approved $50 million in state funding for drug development trials for ibogaine, a powerful, naturally occurring medicine showing extraordinary promise as a breakthrough treatment for substance use disorder, trauma-related conditions, and traumatic brain injury.

With the passage of House Bill 3717, authored by State Representative Cody Harris (R–Palestine), and Senate Bill 2308, sponsored by State Senator Tan Parker (R–Flower Mound), Texas now leads the country—and the world—in psychedelic research investment. This is the largest publicly funded psychedelic research initiative ever launched by any government worldwide.

"Ibogaine is the Manhattan Project of our time," Bryan Hubbard, Executive Director of the American Ibogaine Initiative and architect of the legislation, said. "We have a once-in-a-lifetime opportunity to change the fabric of this country. And mighty Texas, in all its strength and independence, is the first state to stand up and lead a revolution in the treatment of trauma and addiction."

Ibogaine is a psychoactive alkaloid derived from West African botanical sources. Studies have shown that a single treatment can significantly interrupt substance dependence, reduce trauma symptoms, and promote neurological repair. Yet in the U.S., ibogaine remains a Schedule I drug, blocking formal research for decades. Thousands of Americans, particularly Veterans and first responders, have been forced to seek treatment abroad or go without.

After we're given the history of the initiative, financial arrangements:

The $50 million appropriation will help fund FDA-approved clinical trials of ibogaine in partnership with a drug developer, who will assume all financial risk and regulatory responsibility for advancing the treatment through the clinical trial process. Texas retains a financial stake in any future dividends from successful drug development, which could be used to help fund access to ibogaine treatment for Texans in need.

There's more at the link.

H/t Tyler Cowen.