ATAI Life Sciences

And I think anyone who was...

There was the acquisition of Atai Beckley by Eli Lilly last week for up to $3.8 billion.

Anyone who was an early investor into the category of psychedelics just really have returns on their investments.

And so I expect that the next big... subcategory within psychedelics will be care delivery because now we're seeing these drugs actually getting to market.

We've seen positive phase three data, President Trump's executive order, greater regulatory clarity following the FDA's finalized guidance.

And of course, major pharma interests with the recent acquisition of Atai Beckley.

So what do you think this means for the prospects and timing of rescheduling for the commercial market that NMT is building toward?

Yeah, so the rescheduling question is still probably the biggest opaque or unknown piece of all of this.

There are.

For example, Demerx, working in partnership with the major biotech firm Atai Life Sciences, has been advancing clinical programs.

They have developmental pipelines looking at both Ibogaine itself under the identifier DMX-1002, and importantly, they have explored Nortibogaine under the identifier IBX-210.

So they were looking at the metabolite directly.

Yes, she was way ahead of her time.

And her son, Cosmo Feilding Mellon, took those decades of underground and preliminary research and launched Beckley Psytech in 2019, which eventually merged with Atai Life Sciences to form Beckley in 2025.

So what was their specific chemical breakthrough with the toad venom?

venom?Their pivotal move was transitioning from natural extraction to synthetic precision.

We were lucky enough to speak to Michael Winlow from Emeria the other week, going into psychedelics, MDMA therapeutics, at least at the higher level.

And then we've recently seen Eli Lilly agree to acquire Atai Beckley for approximately US $1.

$2.8 billion upfront and another US $1 billion in milestones for its lead program, which is an intranasal formulation of mebifotinin, designed to deliver a short in-clinic psychedelic experience for treatment-resistant depression.

We've also seen a bunch of other transactions in this space.

Next, our deal and pipeline roundup.

Cosiens acquired Newaltes from Atai Beckley yesterday for fifteen million dollars in cash plus contingent earn-outs.

Newaltes develops and manufactures oral films for other drug companies.

Its manufacturing work includes RezifilM, an FDA-approved oral film for acute migraine.

In other news, the advisor shares psychedelic ETF outperformed the S&P 500 by roughly 32% this year.

Eli Lilly acquired Atai Beckley for roughly $2.8 billion up front, with up to $1 billion in milestones for the treatment-resistant depression candidate BPL003.

The Wall Street Journal reported that early SpaceX investors Antonio Gracias and Steve Jurvetson have invested in psychedelic medicine companies, including Gracias' $25 million into Lycos Therapeutics and $16 million into Harvard Research.

Steve Cohen, David Brawner, and members of the Pritzker family have also funded trials.