Atai Life Sciences Plans $390M Merger With Beckley Psytech

Atai Life Sciences and Beckley Psytech have announced a strategic merger to form atai Beckley, a leading global entity in psychedelic mental health therapies. The all-share deal values Beckley at approximately $390 million and grants its shareholders a 31% stake in the combined company, which is expected to close in the latter half of 2025. The merger aims to leverage their complementary expertise and intellectual property portfolios to develop rapid-acting psychedelic compounds, including mebufotenin (5-MeO-DMT), with topline Phase 2b trial data for treatment-resistant depression anticipated by mid-2025. This trial is notable as the largest controlled study of mebufotenin in the U.S. Beckley’s lead program involves a synthetic intranasal form of 5-MeO-DMT, a compound derived from toad venom, which has gained popularity but raised environmental concerns prompting synthetic alternatives. The combined company plans to operate under joint leadership, aiming to accelerate the development of accessible and transformative mental health treatments.