Psychedelic medicines are reaching a critical inflection point. And now, one of the biggest deals ever in psychedelic drug discovery has just happened.
What’s happening:
- Berlin based psychedelic biopharmaceutical company atai Life Sciences (NASDAQ: ATAI) has announced they will invest $50M USD into psychedelic drug developer Beckley Psytech
- The $50M investment from atai Life Sciences will primarily go towards advancing the clinical development of Beckley Psytech’s novel psychedelic compound for Treatment Resistant Depression and Alcohol Use Disorder
By the numbers:
- atai Life Sciences will own 35% of Beckley Psytech after completing their investment
- $40M USD will go directly into Beckley Psytech to advance their clinical trials, with the remaining $10M USD going towards purchasing equity from existing shareholders
- Within the 12 months it is anticipated Beckley Psytech will have multiple results from their clinical trials, including results from their Phase II trial for Treatment Resistant Depression
Why it matters:
- Psychedelic medicines are getting closer than ever to FDA approval and being administered in a clinical setting
- This is one of the largest investments atai Life Sciences has ever made and further solidifies their position as one of the leading psychedelic drug development companies in the world
Going deeper:
- Beckley Psytech’s novel molecule BPL-003 is widely seen as one of the most promising new drugs for short duration psychedelic treatment, which aims to have the same therapeutic effect of long duration psychedelics but in a much more efficient way for patients
