A group of Silicon Valley and Wall Street executives has raised $30 million to speed the development of a closely watched psychedelic-drug therapy. The Multidisciplinary Association for Psychedelic Studies, a nonprofit advocating for psychedelic research since the 1980s, is conducting its last phase of clinical trials to research the efficacy of using MDMA-assisted psychotherapy for post-traumatic stress disorder. PTSD afflicts about eight million adults a year. MDMA is more commonly known as the main component of Ecstasy. Armed with the new funding, MAPS is aiming to finish the trials and seek approval from the Food and Drug Administration to commercialize the MDMA-assisted psychotherapy as soon as 2022. In 2017, the FDA designated MDMA as a breakthrough therapy for PTSD, meaning it would expedite review of the drug. MAPS said a recent interim analysis of its Phase 3 clinical trials ... showed a very high likelihood the therapy will be effective for treating PTSD. In phase 2 clinical trials, individuals with post-traumatic stress disorder received psychotherapy, some with the psychedelic drug MDMA. More of those who received the drug no longer received a PTSD diagnosis in the months after treatment, compared with those who received a placebo. Business leaders said their donations came from a personal connection to mental-health conditions. Among them is billionaire Bob Parsons, founder of GoDaddy and ... a Marine Corps Vietnam War veteran, who said he has continued to battle PTSD.