Mentioned:
One of the most important publicly traded psychedelic biotechnology companies in North America is raising fresh capital.
What’s happening:
- Psychedelic drug development company atai Life Sciences (NASDAQ: ATAI) is raising $55M USD in a new equity financing round
Why it matters:
- atai Life Sciences is one of the most advanced psychedelic drug development companies in the public markets and has attracted multiple notable investors, including Christian Angermayer, Peter Thiel and Mike Novogratz
Going deeper:
- Currently, atai Life Sciences is advancing clinical trials focused on multiple psychedelic compounds, including DMT, MDMA and Ibogaine
- atai Life Sciences’ portfolio company Beckley Psytech just recently announced extremely positive clinical data from their Phase II trial focused on using DMT as a therapeutic treatment for Alcohol Use Disorder
The intrigue:
- DMT as a therapeutic has been making waves in the public markets lately, with GH Research also just recently publishing exceptionally positive patient outcomes from their clinical trial focused on using DMT for treatment resistant depression
