Eli Lilly announced on July 16 its acquisition of AtaiBeckley, marking the pharmaceutical company's first entry into the psychedelics field.
Under the agreement, Lilly will pay $6.75 per share for AtaiBeckley’s common stock, representing a $2.8 billion upfront payment. The deal also includes a contingent value right of up to $2.50 per share, which could add another $1 billion if certain milestones are met, bringing the total potential value to $3.8 billion.
Both companies’ boards of directors have approved the transaction and expect it to close in the third quarter. Following news of the deal, AtaiBeckley’s stock rose nearly 35% in premarket trading to $7.20.
AtaiBeckley’s lead asset is BPL-003, a synthetic form of 5-MeO-DMT developed as a nasal spray for treatment-resistant depression (TRD). Phase 2a data released in April showed that BPL-003 produced an antidepressant response in two-thirds of patients by day two and maintained this effect through 85 days of follow-up. The company has indicated that topline Phase 3 data may be available by early 2029.
The move comes amid increased attention on psychedelic therapies for mental health conditions such as TRD. In January 2025, Johnson & Johnson’s esketamine-based Spravato became the first monotherapy approved by the Food and Drug Administration for TRD, while Compass Pathways is developing its psilocybin-based therapy COMP360 for similar indications and recently reported positive durability results from ongoing studies.
Recent policy developments have supported growth in this sector: In April, President Donald Trump issued an executive order directing expedited review vouchers for certain psychedelic drug developers through the FDA Commissioner’s National Priority Vouchers program; three such vouchers were awarded shortly thereafter. On Monday prior to Lilly's announcement, the FDA released finalized guidance outlining clinical testing recommendations for psychedelic compounds intended to treat mental health disorders.
