ATAI Life Sciences, a global biotech company developing psychedelic and non-psychedelic compounds for various mental health indications, today announced the success Completion of Series C financing of $ 125 million The round was jointly chaired by the Apeiron Investment Group, the family office of ATAI founder Christian Angermayer, Peter Thiel, and Catalio Capital Management. along with other existing investors such as Future Ventures and Galaxy Investment Partners as well as new investors such as Falcon Edge Capital and Pura Vida Pro, LLC.
The proceeds from the financing will be used primarily to fund the preclinical and clinical development of ATAI’s existing mental health programs, to expand the pipeline for drug candidates, and to advance ATAI’s platform technologies. The company believes the proceeds will provide the foundation necessary to meet several key clinical milestones, including Phase 2 data viewing for arketamine for treatment-resistant depression at Perception Neuroscience and ibogaine for opioid use disorder at DemeRx, and completion of Phase 1 and the initiation of phase 2 studies in four other programs.
“We are grateful that both new and existing investors, comprised of forward-thinking individuals who share our belief that innovation in mental health care is urgently needed and possible, have received strong support,” he said Florian Brand, CEO & Co-Founder of ATAI Life Sciences. “We believe that our psychedelic and non-psychedelic compounds have strong therapeutic promise based on a growing body of science. This funding round is another step in our vision of effectively treating and ultimately preventing mental disorders, and bridges the gap between what the mental health system currently offers and what patients need. “
“With COVID-19 only highlighting the failure of existing standards of care, we are at a tipping point in seriously addressing this global mental health crisis,” he said Christian Angermayer, Founder of ATAI. “I look forward to continuing to support ATAI along with an impressive group of investors. I am proud of the world-class technology, tools, and high-profile talent that have been developed at ATAI for developing promising therapeutics for the treatment of mental health disorders. The previous ones ATAI’s progress has been amazing and I’m excited about what’s to come. “
“ATAI’s growth is testament to the widespread recognition of its founding mission and a key element in the shifting thinking we are seeking in neuropsychiatric research and development,” said Jason Camm, managing director and chief medical officer, Thiel Capital.
“Christian and the ATAI team single-handedly invented and created an entire sector and with ATAI built the leading company in it,” he said George Petrocheilos, Co-Founder and Managing Partner of Catalio Capital Management. “Your work has the potential to change the lives of hundreds of millions of people and we are proud to be an investor.”
About ATAI Life Sciences
ATAI is a biotechnology company founded in 2018 to respond to the clear and growing unmet needs of mental health patients worldwide. ATAI is dedicated to the acquisition, incubation and efficient development of innovative therapeutics for the treatment of depression, anxiety, addiction and other mental disorders. ATAI’s business model combines financing, technology, scientific and regulatory expertise with an emphasis on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential. By pooling resources and best practices, ATAI aims to responsibly accelerate the development of new drugs across all businesses and effectively treat and ultimately cure mental illness. ATAI’s mission is to bridge the gap between what the psychiatric system currently offers and what patients need. ATAI is headquartered in Berlin and has offices in New York and San Diego. More information is available at www.atai.life.