Peter Thiel-backed psychedelics agency to lift $100 million

Peter Thiel, co-founder of PayPal Inc. VCG | Getty Photographs ATAI Life Sciences, a biopharmaceutical firm aiming to make psychedelic medication to deal with psychological well being issues, introduced that it’s planning to lift $100 million in an preliminary public providing. The Berlin-headquartered firm, which counts billionaire investor Peter Thiel as one in all its


Peter Thiel, co-founder of PayPal Inc.

VCG | Getty Photographs

ATAI Life Sciences, a biopharmaceutical firm aiming to make psychedelic medication to deal with psychological well being issues, introduced that it’s planning to lift $100 million in an preliminary public providing.

The Berlin-headquartered firm, which counts billionaire investor Peter Thiel as one in all its major backers, submitted an S-1 submitting to the Securities and Trade Fee on Tuesday.

The submitting reveals that ATAI has raised an mixture of $362.3 million from non-public buyers thus far.

It’s planning to promote its shares on New York’s tech-focused Nasdaq market beneath the image ATAI. A date for the IPO has not been set.

Underwriters for the IPO embody Credit score Suisse, Citigroup, Cowen, and Berenberg.

ATAI, which describes itself as a drug growth platform, was set as much as purchase, incubate and develop psychedelics and different medication that can be utilized to deal with melancholy, anxiousness, dependancy and different psychological well being situations.

The corporate, which has roughly 50 employees in workplaces throughout Berlin, New York and San Diego, is at present partnered with 14 corporations specializing in drug growth and different applied sciences. In change for a majority stake within the medication and applied sciences they’re growing, ATAI helps the scientists to lift cash, work with the regulators, and conduct scientific trials. None of ATAI’s medication have been formally authorised by regulators thus far.

Thiel made a ten million euro ($12 million) funding in ATAI by means of his enterprise agency, Thiel Capital, in November.

“ATAI’s nice advantage is to take psychological sickness as severely as we should always have been taking all sickness all alongside,” Thiel, who co-founded Palantir and PayPal, stated in an announcement shared with CNBC on the time. “The corporate’s Most worthy asset is its sense of urgency.”

The corporate was based in 2018 by entrepreneurs Christian Angermayer, Florian Model, Lars Wilde and Srinivas Rao. It has invested in Compass Pathways, which has developed an artificial model of the energetic ingredient in magic mushrooms, psilocybin.

Compass Pathways, which Thiel has additionally invested in, listed on the New York’s NASDAQ inventory change in September and now has a valuation of round $1.3 billion.



Supply hyperlink

The Fund Times
ADMINISTRATOR
PROFILE

Posts Carousel

Leave a Comment

Your email address will not be published. Required fields are marked with *

Latest Posts

Top Authors

Most Commented

Featured Videos