The new funding is the largest single donation to the field and will fund a five-year research programme to examine whether psilocybin, the psychedelic compound found in magic mushrooms, can treat alcoholism, post-traumatic stress disorder and several other complex conditions.
Many of the tests being conducted by the centre are the first of their kind and will involve between 200 and 250 volunteers over a number of trials. In most cases patients will be given one or two doses of the drug while under constant observation.
Dr Frederick Barrett, assistant professor of psychiatry and behavioral sciences at Johns Hopkins, said psilocybin offered a "radically different model" of treatment as psychedelic drugs "don't follow the cycle of abuse". "People don't typically experience craving or withdrawal after the use of psychedelic drugs," he told the Daily Telegraph.
Barrett said researchers were still unsure why psychedelic drugs work, but theories suggest their effect on the brain is to "increase cognitive flexibility", or alter its "balance of positive and negative emotional information". However,he cautioned against decriminalisation.
One of the centre donors is entrepreneur and podcast host Tim Ferriss. The other private donors are the Steven & Alexandra Cohen Foundation, which provided most funding, as well as Matt Mullenweg, the co-founder of WordPress, TOMS shoe brand founder Blake Mycoskie and investor Craig Nerenberg.