Eli Lilly acquires AtaiBeckley for $2.8 billion, expanding its pipeline for treatment-resistant depression therapies

Mars Finance News: On July 16, Eli Lilly announced that it has reached a definitive agreement to acquire clinical-stage biopharmaceutical company AtaiBeckley for $6.75 per share in cash. The transaction’s equity value is approximately $2.8 billion. In addition, if its two mental disorder candidate therapies achieve specific R&D and regulatory milestones, shareholders may also receive up to $2.50 per share in contingent consideration or in the form of a value right, corresponding to a potential additional equity value of approximately $1.0 billion.

AtaiBeckley focuses on developing innovative therapies for mental disorders. Its core product, BPL-003, is a nasal spray formulation of 5-MeO-DMT for the treatment of treatment-resistant depression. It has received the U.S. FDA’s Breakthrough Therapy Designation and has begun preparations for a Phase III clinical trial. Another candidate product, VLS-01, is currently in Phase IIb clinical development. The deal is expected to be completed in the third quarter of this year and is still subject to shareholder and regulatory approvals. (Global View)