The money is flowing..
Here’s a press release from yestrday about the latest raise
Funding to support advancement of psychedelic and non-psychedelic compounds as well as innovative technologies to treat mental health disorders
Participants include Apeiron Investment Group, Peter Thiel, Catalio Capital Management, Future Ventures, Galaxy Investment Partners, Falcon Edge Capital and Pura Vida Pro LLC
NEW YORK, Nov. 23, 2020 /PRNewswire/ — ATAI Life Sciences (“ATAI” or the “Company”), a global biotech company developing psychedelic and non-psychedelic compounds for various mental health indications, today announced the successful closing of its $125 million Series C financing round, including $32 million of its 2020 convertible debt that converted in connection with the Series C. The round was co-led by Apeiron Investment Group, the family office of ATAI’s founder Christian Angermayer, Peter Thiel, and Catalio Capital Management; joined by other existing investors including Future Ventures and Galaxy Investment Partners, as well as new investors including Falcon Edge Capital and Pura Vida Pro, LLC.
Proceeds from the financing will be used primarily to fund pre-clinical and clinical development of ATAI’s existing mental health programs, to expand its drug candidate pipeline and further advance ATAI’s platform technologies. The Company expects the proceeds to provide the necessary runway to accomplish several key clinical milestones including Phase 2 data readouts for arketamine in treatment resistant depression at Perception Neuroscience and ibogaine in opioid use disorder at DemeRx, as well as the completion of Phase 1 and initiation of Phase 2 trials at four other programs.
“We are grateful to have the strong support of both new and existing investors, comprised of forward-thinking individuals that share in our belief that innovation in mental healthcare is urgently needed and possible,” said Florian Brand, CEO & Co-Founder of ATAI Life Sciences. “We believe that our psychedelic and non-psychedelic compounds have compelling therapeutic promise based upon a growing body of scientific evidence. This round of funding is another step towards our vision to effectively treat and ultimately prevent mental health disorders, bridging the gap between what the mental health system currently provides and what patients need.”
“With COVID-19 only accentuating the failures of existing standards of care, we are at an inflection point when it comes to seriously addressing this global mental health crisis,” said Christian Angermayer, Founder of ATAI. “I’m excited to continue my support of ATAI alongside an impressive group of investors. I’m proud of the best-in-class technology, tools and top-tier talent that has been established at ATAI to developing promising therapeutics to treat mental health disorders. ATAI’s progress to date has been astounding, and I’m thrilled at what is yet to come.”
“ATAI’s growth is a testament to the wide recognition of its founding mission, and a key element of the change in thinking we seek to catalyze across neuropsychiatric research and development,” said Jason Camm, Managing Director and Chief Medical Officer of Thiel Capital.
“Christian and the ATAI team have singlehandedly invented and created an entire sector, and have built with ATAI the leading company in it,” said George Petrocheilos, Co-Founder & Managing Partner of Catalio Capital Management. “Their 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 in response to the clear and growing unmet needs of mental health patients worldwide. ATAI is dedicated to acquiring, incubating and efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders. ATAI’s business model combines funding, technology, scientific and regulatory expertise with a focus 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 medicines across its business entities, seeking to effectively treat and ultimately heal mental health disorders. ATAI’s mission is to bridge the gap between what the mental healthcare system currently provides and what patients need. ATAI is headquartered in Berlin, with offices in New York and San Diego. For more information, please visit www.atai.life.
Also see Sifted report
“The US is slightly quicker than Europe on this,” he says. The political debate around drugs seen in Canada and the US is only mirrored in a few European countries, namely Portugal and the Netherlands and, besides that, the discussion is relatively silent.
But, globally, the scientific community is becoming more and more accepting, Brand says, as are drug regulators.
“We see generally it’s an interesting time to be in the mental health innovation space,” he says, “there’s a nice momentum now.”