Atai Life Sciences is a mental health-focused biotech developing therapies in the psychiatric/mental health space. The company has a sizable portfolio and recently reassessed its programs. As part of that reassessment it has pruned its pipeline and exited partnerships. Atai has taken on a $175M loan as it reorganizes. Management says it is concentrating resources on looming data readouts from remaining programs. The company frames these moves as planning for the long haul. atai Life Sciences is a clinical-stage biopharmaceutical company developing psychedelic and non-psychedelic compounds to treat depression, anxiety, addiction, and other mental health disorders. The company acquires, incubates and develops therapeutics using funding, technology, and scientific and regulatory expertise, with a focus on psychedelic therapy and drugs with differentiated safety profiles. atai is led by Christian Angermayer and Florian Brand (CEO & co-founder) and operates from Berlin with offices in New York. The company plans to use its new capital to expand and develop its diverse drug candidate pipeline and enabling technologies. It also intends to continue advancing current clinical developments and to scale its team to deliver key milestones. Financially, atai closed a $157M Series D financing to support these efforts. ATAI Life Sciences is a global biotechnology company developing psychedelic and non-psychedelic compounds to treat depression, anxiety, addiction, and other mental health disorders. Its model acquires and incubates programs across multiple entities, combining funding, platform technologies, and scientific and regulatory expertise to accelerate therapeutic development. ATAI focuses on advancing both drug candidates and platform tools with the aim of treating and ultimately preventing mental health disorders. Proceeds from the recent financing will primarily fund pre-clinical and clinical development, expand ATAI's pipeline, and further advance its platform technologies. Management expects the funding to provide runway for several near-term milestones, including Phase 2 data readouts for arketamine in treatment-resistant depression and ibogaine in opioid use disorder, plus completion of Phase 1 and initiation of Phase 2 trials in four other programs. ATAI was founded in 2018 and is headquartered in Berlin, with offices in New York and San Diego. ATAI Life Sciences is a global biotech platform that uses a decentralized, big-data approach to accelerate early-stage drug development for mental health disorders. Founded in 2018 by Christian Angermayer, Lars Wilde and Florian Brand, the company focuses on paradigm-shifting and formerly stigmatized compounds with prior evidence of efficacy and safety in humans. Its portfolio includes Innoplexus, which delivers big data and AI solutions that ATAI uses for in-house discovery, and ATAI is the largest investor in COMPASS Pathways, which is developing psilocybin therapy for treatment-resistant depression. In January ATAI acquired Perception Neuroscience and is developing an arketamine therapy for neuropsychiatric diseases. The company cites an initial focus on addressing depression — affecting more than 300 million people, with roughly 100 million treatment-resistant cases — and plans to use its platform to expand the pipeline and acquire additional compounds. ATAI is based in Berlin, London and New York and recently closed a $43 million Series B to fund platform technology, pipeline development, and acquisitions.

Total raised

$500M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Aug 2022