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- AtaiBeckley
AtaiBeckley Acquisition, Valuation & Financials
AtaiBeckley was acquired by Eli Lilly for $3.8B in July 2026.
AtaiBeckley revenue as a public company
$3M
Last twelve months · Sep 2026 · -10989% EBITDA margin
Cumulative funding AtaiBeckley raised
$347M
across 6 funding rounds
AtaiBeckley market cap before the deal
$2.7B
NAS: ATAI · Sep 2026
About AtaiBeckley
AtaiBeckley Inc is a clinical-stage biopharmaceutical company on a mission to transform patient outcomes by developing effective, rapid-acting, and convenient mental health treatments. AtaiBeckley's pipeline of novel therapies includes BPL-003 (mebufotenin benzoate nasal spray) for treatment-resistant depression (TRD), VLS-01 (DMT buccal film) for TRD and EMP-01 ((R)-MDMA HCI) for social anxiety disorder, which are in Phase 2 clinical development.
Founded
2020
HQ
Website
Status
Acquired
Customer focus
B2C
Revenue model
Product sales
Revenue
$3M (Sep 2026)
Valuation
$2B (Mar 2021)
Sectors
AtaiBeckley Acquisition
AtaiBeckley was acquired by Eli Lilly for $3.8B on 15 July 2026.
Before the acquisition AtaiBeckley had raised $347M across 6 funding rounds.
Eli Lilly agreed on July 16, 2026, to acquire clinical-stage biopharmaceutical company AtaiBeckley in an all-cash and contingent value right (CVR) deal valued at $2.8 billion upfront, with total potential value reaching $3.8 billion. The transaction structure includes $6.75 per share in cash at closing plus one non-transferable CVR per share for up to an additional $2.50, tied to development and regulatory milestones for AtaiBeckley's lead programs BPL-003 (treatment-resistant depression) and VLS-01. The upfront price represents approximately a 40% premium to AtaiBeckley's 30-day volume-weighted average share price through July 15, 2026, and a 26% premium to the prior closing price of $5.36. The strategic rationale centers on Eli Lilly's expansion into the psychedelic drug race and neuroscience pipeline, adding investigational therapies for treatment-resistant depression and other mental health conditions to its portfolio. AtaiBeckley was formed in 2025 through the merger of Germany-based Atai Life Sciences and privately held Beckley Psytech, and operates as a New York-based clinical-stage biopharmaceutical company specializing in psychedelic-based mental health treatments. Jefferies analyst Andrew Tsai estimates BPL-003 could generate $1 billion to $2 billion in sales if it succeeds in late-stage trials. The deal includes milestone payments over the next four, five, and seven years, with CVRs adding up to $1.0 billion in potential value. Financial metrics such as revenue and EBITDA are not publicly disclosed for AtaiBeckley, as the company remains clinical-stage with no commercial product sales.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 15 Jul 2026 | Strategic M&A | $3.8B |
Sources: prnewswire.com, prnewswire.com
AtaiBeckley as a Public Company
AtaiBeckley traded as NAS: ATAI before it was taken private. Its acquisition was announced in July 2026. September 2026 is its last month on record as a listed company, with a market cap of $2.7B and an enterprise value of $2.5B.
Last-twelve-month revenue was $3M, with EBITDA of ($307M) (-10989% margin).
Over the 4 years before that, its market cap grew from $549M in September 2022 to $2.7B.
AtaiBeckley market cap while listed
AtaiBeckley EV/Revenue (LTM) while listed
| As of | Market cap | Revenue (LTM) | EBITDA (LTM) | EBITDA margin | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Sep 2026 | $2.7B | $3M | ($307M) | -10989% | 895.6x | (8.2x) |
| Sep 2025 | $1.3B | $2M | ($99M) | -5689% | 670.7x | (11.8x) |
| Sep 2024 | $195M | $400K | ($110M) | -26636% | 308.0x | (1.2x) |
| Sep 2023 | $214M | - | - | - | - | - |
| Sep 2022 | $549M | - | - | - | - | - |
Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month AtaiBeckley traded.
AtaiBeckley Valuation
AtaiBeckley is currently valued at $2B, based on its Series D in March 2021.
The $157M round was led by Apeiron Investment Group, Thiel Capital and Woodline Partners.
AtaiBeckley valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2021 | Series D | $2B |
AtaiBeckley Funding History
AtaiBeckley has raised a total of $347M across 6 funding rounds.
AtaiBeckley's first fundraising round was a $4M seed round in June 2018. The most recent completed round was a $157M Series D in March 2021.
AtaiBeckley funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2021 | Series D | Apeiron Investment Group (lead); Thiel Capital (lead); Woodline Partners (lead) | $157M | $2B | Atai Life Sciences closed a $157 million Series D financing round on March 3, 2021, led by existing investors Apeiron Investment Group, Christian Angermayer's family office, and Thiel Capital, with new investor Woodline Partners LP joining the round. Additional participation came from Fearless Ventures, Falcon Edge Capital, Pura Vida Pro, Catalio Capital Management, Michael Auerbach's Subversive Capital, Highline Capital, and others. The proceeds were designated to support expansion and development of the company's diverse drug candidate pipeline, advance clinical developments, and scale the experienced team. At the time of the Series D round in early 2021, Atai was a clinical-stage biopharmaceutical company developing psychedelic and non-psychedelic compounds for various mental health indications, positioning itself as a biotech platform company that invested in and worked closely with portfolio and subsidiary companies developing psychedelics like psilocybin, arketamine, and ibogaine into medicines. The round came less than four months after Atai's prior $125 million Series C financing, establishing the company as the largest private psychedelics company in the world. CEO Florian Brand attributed the round's success to renewed investor interest following Compass Pathways' NASDAQ IPO in the fall of 2020, noting that institutional investors were increasingly recognizing the need for innovation in mental health treatment. |
| Nov 2020 | Series C | Apeiron Investment Group (lead); Catalio Capital Management (lead) | $93M | - | - |
| Apr 2020 | Undisclosed stage | Christian Angermayer; Future Ventures; Peter Thiel; Thiel Capital; Masnavi Capital; Efrem Kamen; Steve Jurvetson; Thor Bjorgolfsson; Michael Novogratz; What If Ventures | $25M | - | AtaiBeckley is a clinical-stage biopharmaceutical company founded in 2018 focused on developing mental health treatments, particularly psychedelic-based therapies. The company's pipeline includes BPL-003, a nasal spray in Phase 3 trials for treatment-resistant depression, and EMP-01 for social anxiety disorder. |
| Mar 2019 | Series B | Subversive Capital (lead); Bracket Capital; Bail Capital; Apeiron Investment Group; Efrem Kamen; Aglaé Ventures; Recharge Capital; Infinitas Capital; Able Partners | $43M | - | - |
| Oct 2018 | Series A | Michael Novogratz (lead); Thor Bjorgolfsson (lead); Nico Wittenborn; Recharge Capital | $26M | - | - |
| Jun 2018 | Seed | Nimble Ventures (lead); Head and Heart Capital; Mohammad Hans Dastmaltchi | $4M | - | - |
Who has invested in AtaiBeckley?
24 investors have backed AtaiBeckley across its funding rounds, including Apeiron Investment Group, Recharge Capital, Thiel Capital, Michael Novogratz, Thor Bjorgolfsson and Efrem Kamen.
Lead investors include Apeiron Investment Group, Thiel Capital, Woodline Partners, Catalio Capital Management, Subversive Capital and 3 other investors.
AtaiBeckley Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Mar 2019 | ||
| 2 | Lead | Apr 2020 | ||
| 2 | Participant | Mar 2019 | ||
| 2 | Lead | Oct 2018 | ||
| 2 | Lead | Oct 2018 | ||
| 2 | Participant | Oct 2018 | ||
| 1 | Participant | Apr 2020 | ||
| 1 | Participant | Oct 2018 | ||
| 1 | Participant | Mar 2019 | ||
| 1 | Participant | Apr 2020 | ||
| 1 | Participant | Apr 2020 | ||
| 1 | Participant | Jun 2018 | ||
| 1 | Participant | Mar 2019 | ||
This data is available for Pro users. Sign up to see all 24 AtaiBeckley investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by AtaiBeckley
AtaiBeckley has acquired 5 companies to date.
Last acquisition by AtaiBeckley was on June 2nd 2025. AtaiBeckley acquired Beckley Psytech for $530M.
Latest Acquisitions by AtaiBeckley
| Description | Beckley Psytech is an Oxford-headquartered biotechnology company creating psychedelic-derived therapies for neuropsychiatric disorders. Its lead program, ELE-101, delivers psilocin via intravenous administration for treatment-resistant depression in Phase 2 trials. Additional candidates include BPL-003, a 5-MeO-DMT formulation for stroke-induced aphasia, and ELE-201 for bipolar disorder. Beckley Psytech conducts studies at sites in the United States and Europe to shorten treatment durations while maintaining efficacy. | IntelGenx Corp. is a Longueuil-headquartered oral film drug delivery company. Its VersaFilm technology produces dissolvable films for therapies like buprenorphine and triptans, with FDA-approved products via partners like Purdue Pharma. The firm operates a 25,000 sq ft GMP facility for scale-up production. Founded in 1997, IntelGenx lists on TSX-Venture and partners with major pharma for R&D. | Psyber is a digital therapeutics developer using brain-computer interfaces for mental health interventions. Tel Aviv-based, the company creates BCI-enabled apps targeting anxiety, ADHD, and depression through neurofeedback training and behavioral modification programs. | Recognify Life Sciences is a biotechnology company advancing novel therapeutics for cognitive impairment associated with schizophrenia. The firm targets unmet needs in neuropsychiatric disorders through small-molecule drug development, with its lead program addressing core symptoms of cognitive dysfunction in schizophrenia patients. Based in the United States, Recognify focuses on precision medicine approaches to restore cognitive abilities and improve quality of life for affected individuals. | |
| HQ Country | |||||
| HQ City | - | Montreal | Chicago, IL | Berlin | |
| Deal Date | 2 Jun 2025 | 30 Sep 2024 | 7 Apr 2021 | 12 Jan 2021 | |
| Valuation | $530M | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all AtaiBeckley acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Investments by AtaiBeckley
AtaiBeckley has invested in 2 companies to date.
Latest investment by AtaiBeckley was on January 4th 2024. AtaiBeckley invested in Beckley Psytech in their $10M Undisclosed stage round.
Latest Investments by AtaiBeckley
| Description | Beckley Psytech is an Oxford-headquartered biotechnology company creating psychedelic-derived therapies for neuropsychiatric disorders. Its lead program, ELE-101, delivers psilocin via intravenous administration for treatment-resistant depression in Phase 2 trials. Additional candidates include BPL-003, a 5-MeO-DMT formulation for stroke-induced aphasia, and ELE-201 for bipolar disorder. Beckley Psytech conducts studies at sites in the United States and Europe to shorten treatment durations while maintaining efficacy. | Beckley Psytech is an Oxford-headquartered biotechnology company creating psychedelic-derived therapies for neuropsychiatric disorders. Its lead program, ELE-101, delivers psilocin via intravenous administration for treatment-resistant depression in Phase 2 trials. Additional candidates include BPL-003, a 5-MeO-DMT formulation for stroke-induced aphasia, and ELE-201 for bipolar disorder. Beckley Psytech conducts studies at sites in the United States and Europe to shorten treatment durations while maintaining efficacy. | Compass Pathways PLC is a biotechnology company focused on developing therapies for mental health conditions. Its research centers on a proprietary synthetic psilocybin formulation, COMP360, which is administered alongside psychological support. The company is conducting clinical trials to evaluate the safety and efficacy of this treatment in patients with treatment-resistant depression and other mental health disorders. The company operates in one operating segment. |
| HQ Country | |||
| HQ City | - | - | - |
| Deal Date | 4 Jan 2024 | 4 Jan 2024 | 27 Apr 2020 |
| Round | Undisclosed stage | Secondary | Series B |
| Raised | $10M | $10M | $80M |
| Investors | Concentric | - | Noetic Fund; Skyviews Life Science; Soleus Capital; Camden Partners; Justin Mateen; McQuade Center for Strategic Research and Development; Founders Fund; Presight Capital; Perceptive Advisors; Able Partners |
| Valuation | $141M | $141M | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all AtaiBeckley investments and their VC round multiples. Start Free Trial | |||
AtaiBeckley Competitors
AtaiBeckley competitors include listed companies like Xenon Pharmaceuticals, Amylyx Pharmaceuticals, Beijing Tiantan and Santen Pharmaceutical, and private ones like Biomat USA and LEO Pharma.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $8M | ($369M) | $3.8B | 1238.2x | ||
| Publicly listed | - | ($153M) | $3.8B | 56704.5x | ||
| Publicly listed | $926M | $337M | $3.8B | 4.8x | ||
| Publicly listed | $1.8B | $358M | $3.8B | 1.9x | ||
| Private | - | - | $4.2B | - | ||
| Private | - | $301M | $4.2B | - |
AtaiBeckley Public Comps
AtaiBeckley is no longer listed, but its public comps include Xenon Pharmaceuticals, Amylyx Pharmaceuticals, Beijing Tiantan, Santen Pharmaceutical, CR Pharmaceutical, Apeloa Pharmaceutical, Iovance Biotherapeutics, Livzon Pharmaceutical Group, ACADIA Pharmaceuticals and Laboratorios Rovi.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $8M | ($369M) | 382.5x | 1238.2x | (7.8x) | (6.0x) | |||
| - | ($153M) | - | 56704.5x | (19.7x) | (16.7x) | |||
| $926M | $337M | 4.4x | 4.8x | 12.0x | 17.8x | |||
| $1.8B | $358M | 2.0x | 1.9x | 10.3x | 8.5x | |||
| $40B | $2.6B | 0.5x | 0.5x | 8.1x | 8.3x | |||
| $1.5B | $247M | 2.3x | 2.4x | 13.9x | 12.5x | |||
| $264M | ($356M) | 12.9x | 8.5x | (9.5x) | (17.9x) | |||
| $1.8B | $480M | 1.8x | 2.1x | 6.9x | 7.7x | |||
This data is available for Pro users. Sign up to see all AtaiBeckley competitors and their valuation data. Start Free Trial | ||||||||
Common questions about AtaiBeckley
| When was AtaiBeckley founded? | AtaiBeckley was founded in 2020. |
| Where is AtaiBeckley headquartered? | AtaiBeckley is headquartered in Berlin, United States. |
| Is AtaiBeckley publicly listed? | No, AtaiBeckley was acquired by Eli Lilly in July 2026. |
| Who acquired AtaiBeckley? | AtaiBeckley was acquired by Eli Lilly in July 2026. |
| How much was AtaiBeckley acquired for? | AtaiBeckley was acquired for $3.8B in July 2026. |
| What is AtaiBeckley's valuation? | AtaiBeckley was last valued at $2B in its Series D in March 2021. |
| How much funding has AtaiBeckley raised? | AtaiBeckley has raised $347M across 6 funding rounds. |
| What was AtaiBeckley's last funding round? | AtaiBeckley's last funding round was a $157M Series D in March 2021, led by Apeiron Investment Group, Thiel Capital and Woodline Partners. |
| Who are AtaiBeckley's investors? | AtaiBeckley's investors include Apeiron Investment Group, Thiel Capital, Efrem Kamen, Thor Bjorgolfsson, Michael Novogratz, Recharge Capital, Christian Angermayer, Nico Wittenborn, Bracket Capital, Future Ventures and 14 others. |
| Which companies are comparable to AtaiBeckley? | Companies comparable to AtaiBeckley include Xenon Pharmaceuticals, Amylyx Pharmaceuticals, Beijing Tiantan, Santen Pharmaceutical, Biomat USA and LEO Pharma. |
| What was AtaiBeckley's market cap before the acquisition? | AtaiBeckley had a market cap of $2.7B in September 2026, its last month on record as a listed company, trading at 895.6x EV/Revenue. |
| What was AtaiBeckley's revenue as a public company? | AtaiBeckley's last reported twelve-month revenue was $3M (September 2026), with EBITDA of ($307M). |
| How many companies has AtaiBeckley acquired? | AtaiBeckley has acquired 5 companies, including Beckley Psytech, IntelGenX, Psyber, Recognify Life Sciences and Perception Neuroscience. |
| What was the largest acquisition by AtaiBeckley? | The $530M acquisition of Beckley Psytech in June 2025 is the largest acquisition AtaiBeckley has made to date. |
| How many companies has AtaiBeckley invested in? | AtaiBeckley has invested in 2 companies, including Beckley Psytech and Compass Pathways. |
| What was AtaiBeckley's last investment? | In January 2024, AtaiBeckley invested in Beckley Psytech's $10M undisclosed-stage round alongside Concentric. |
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