ATAI Life Sciences, a healthcare firm investing in psychedelics and other underused therapies for mental health, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
ATAI was founded as a response to unmet need and lack of innovation in the mental health treatment landscape, as well as the emergence of therapies that previously may have been overlooked or underused, including psychedelic compounds and digital therapeutics. The company has built a pipeline of 10 development programs and six enabling technologies, each supported by its internal development and operational infrastructure. One of its companies, Recognify Life Sciences, has initiated a Phase 2a trial in the US. ATAI expects to initiate a Phase 2 trial for another program in 2021 and an additional three Phase 2 trials for other programs in 2022.
The Berlin, Germany-based company was founded in 2018 and plans to list on the Nasdaq under the symbol ATAI. ATAI Life Sciences filed confidentially on February 1, 2021. Credit Suisse, Citi, Cowen, Berenberg, Cantor Fitzgerald, RBC Capital Markets, and Canaccord Genuity are the joint bookrunners on the deal. No pricing terms were disclosed.
