Eli Lilly agreed on 16 July to acquire AtaiBeckley, a New York-based clinical-stage developer of mental health treatments, for $6.75 per share in cash plus a contingent value right, valuing it at about $2.8bn upfront.
Why Eli Lilly and Company is buying AtaiBeckley Inc.
AtaiBeckley's lead asset, BPL-003, is an intranasal synthetic form of 5-MeO-DMT for treatment-resistant depression that has FDA Breakthrough Therapy Designation and has begun Phase 3 activities. Lilly said the deal expands its neuroscience pipeline in conditions where existing treatments have failed. VLS-01, a DMT buccal film, is in Phase 2b.
“Advancing AtaiBeckley's investigational therapies gives us a real chance to change that.”
Deal terms and financing
Holders receive $6.75 in cash per share plus one CVR paying up to $2.50: $1.00 on starting a Phase 3 trial of VLS-01, $0.50 on US approval and DEA rescheduling of BPL-003, and $1.00 on US approval and rescheduling of VLS-01. The deal had no financing condition, and Apeiron Investment Group and AtaiBeckley's directors and officers, holding about 15% of shares, signed support agreements.
Regulatory approvals and timing
AtaiBeckley shareholders approved the merger at a special meeting on 8 September 2026, and the transaction closed on 11 September.
Market context
AtaiBeckley was formed from the combination of atai Life Sciences and Beckley Psytech. Founder and chairman Christian Angermayer was its largest shareholder.
