Eli Lilly is betting on psychedelics.
What’s happening: The pharma giant is acquiring AtaiBeckley in a deal worth up to $3.8B, marking the largest acquisition in psychedelic medicine to date.
Mind shift. AtaiBeckley’s lead asset, BPL-003, is an intranasal 5-MeO-DMT therapy for treatment-resistant depression that’s entering Phase 3, alongside a second DMT-based candidate in development.
With late-stage trials underway, Atai founder Christian Angermayer believes the category’s new mandate is getting “these medicines into the hands of millions of patients around the globe as quickly as possible.”
Validation. The deal follows growing momentum across the sector, with AbbVie acquiring Gilgamesh Pharmaceuticals and Otsuka buying Transcend Therapeutics for access to MDD and PTSD therapies, respectively.
Looking ahead: With increased federal support and expanding clinical evidence, plant medicine could become the next-generation of mental health therapies.
