A major U.S. university announced on Wednesday that it will be launching the nation’s first center devoted exclusively to researching psychedelic drugs.

Johns Hopkins University said that it received $17 million in private funding to make the facility possible. A team of six researchers and five postdoctoral scientists will conduct studies on a wide range of potential therapeutic uses of psychedelics like psilocybin, including in treatment of opioid addiction, Alzheimer’s disease, depression, anxiety and post-traumatic stress disorder.

The university has already produced cutting-edge research into psychedelics. In 2000, Johns Hopkins researchers focused were the first in the U.S. to gain federal approve to reinitiate research into the substances in individuals who didn’t have prior experience with psychedelics. The institution has since published 60 peer-reviewed studies on the subject.

“The group’s findings on both the promise and the risks of psilocybin helped create a path forward for its potential medical approval and reclassification from a Schedule I drug, the most restrictive federal government category, to a more appropriate level,” the university said in a press release. “Psilocybin was classified as Schedule I during the Nixon administration, but research over the last decade has shown psilocybin to have low toxicity and abuse potential.”

Roland Griffiths, the center’s director said the center’s establishment “reflects a new era of research in therapeutics and the mind through studying this unique and remarkable class of pharmacological compounds.”

“In addition to studies on new therapeutics, we plan to investigate creativity and well-being in healthy volunteers that we hope will open up new ways to support human thriving,” he said.

James Potash, director of the Department of Psychiatry and Behavioral Sciences, said he is “thrilled about this magnificent opportunity that has been provided by enlightened private funders.”

“This center will allow our enormously talented faculty to focus extensively on psychedelic research, where their passions lie and where promising new horizons beckon,” he said.

Tim Ferriss, a tech investor who said his more than $2 million contribution to the psychedelics center was the largest investment he’s ever made in a single project, appeared at a press event and discussed how his personal experience witnessing people suffer from mental illnesses motivated him to donate.

“This represents the largest investment to date in psychedelic research, as well as in training the next generation of psychedelic researchers,” Ferriss said. “I sincerely hope this ambitious Johns Hopkins center will inspire others to think big and establish more psychedelic research centers in the U.S. and overseas, as there’s never been a better time to support such important work.”

Ferriss also took a question via Twitter from Marijuana Moment and said that he hopes that “by facilitating this” center, it paves the way for federal funding [of psychedelics research] within the next five years.”

Federal reclassification of the substances “is something that I hope for, but it’s not something I can aim for very accurately for myself,” he said, adding that the center “could mark the beginning of an important, exciting and new chapter in psychedelics research.”

WordPress co-founder Matt Mullenweg and TOMS founder Blake Mycoskie also made investments in the center.

“This very substantial level of funding should enable a quantum leap in psychedelic-focused research,” the center’s director, who predicted that psychedelics will first be federally approved in the treatment of depression in the next five years, said. “It will accelerate the process of sorting out what works and what doesn’t.”

This is a developing story and will be updated.

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Photo elements courtesy of carlosemmaskype and Apollo.

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