AtaiBeckley Inc. (ATAI)

AtaiBeckley Inc. was a clinical-stage biopharmaceutical company developing treatments for mental health disorders. It was formerly known as ATAI Life Sciences N.V., which was founded in 2018 and headquartered in Berlin, Germany. The business was assembled as a platform of subsidiary companies, each working on a specific compound or condition, including treatment-resistant depression, anxiety, opioid use disorder and cognitive impairment.

ATAI went public in 2021, when its shares began trading on Nasdaq under the symbol ATAI. Its early portfolio included candidates such as PCN-101, a subcutaneous R-ketamine formulation, RL-007 for cognitive impairment associated with schizophrenia, and VLS-01, a formulation of N,N-dimethyltryptamine for treatment-resistant depression. It also held programs involving ibogaine, deuterated etifoxine and other compounds.

In 2025 the company combined with Beckley Psytech Limited, a United Kingdom biotechnology company, and was renamed AtaiBeckley. The combination added BPL-003, an intranasal formulation of mebufotenin (5-MeO-DMT) being developed for treatment-resistant depression, which became a lead program alongside VLS-01.

The company's strategy centered on psychedelic and related neuroplastogenic compounds with a short duration of action, aiming to offer treatment sessions that were shorter than traditional psychedelic experiences. Like many clinical-stage biotechnology firms, it was funded by equity financing and had no approved products.

In 2026, Eli Lilly and Company agreed to acquire AtaiBeckley in a transaction valued at approximately $2.8 billion at closing. Shareholders were to receive $6.75 in cash for each share plus one non-transferable contingent value right worth up to $2.50 per share. The CVR milestones were up to $1.00 if a Phase 3 trial of VLS-01 began within four years, $0.50 upon U.S. approval and DEA rescheduling of BPL-003 within five years, and up to $1.00 upon U.S. approval and DEA rescheduling of VLS-01 within seven years.

The acquisition was completed on September 11, 2026, and AtaiBeckley became a wholly owned subsidiary of Lilly. Its board and executive officers resigned at closing, and the shares were delisted from Nasdaq, with a Form 25 filed the same day. The CVRs are not listed on any exchange.