Atai Life Sciences N.V. (NASDAQ: ATAI), a clinical-stage biopharmaceutical company focused on developing mental health treatments, announced it has secured approximately $50 million in gross proceeds through a private placement financing. The deal involves the sale of 18,264,840 ordinary shares with a nominal value of €0.10 per share, along with pre-funded warrants to purchase an additional 4,566,210 shares.
The financing was co-led by Ferring Ventures S.A. and Apeiron Investment Group, the family office of atai founder and Chairman Christian Angermayer. The round also included participation from new and existing healthcare-focused institutional investors, including Ally Bridge Group and ADAR1.
Advancing Psychedelic-Based Mental Health Pipeline
The net proceeds from the financing will be used for general corporate purposes, including working capital and advancing the clinical development of the company's product candidates and programs. Atai's current pipeline focuses on psychedelic-based therapies, with two key programs in Phase 2 clinical development: VLS-01 (buccal film DMT) for treatment-resistant depression (TRD) and EMP-01 (oral R-MDMA) for social anxiety disorder.
The company is also advancing a drug discovery program to identify novel, non-hallucinogenic 5-HT2AR agonists for treatment-resistant depression. These programs aim to provide commercially scalable interventional psychiatry therapies that can integrate seamlessly into healthcare systems.
Leadership Commentary on Strategic Direction
Christian Angermayer commented on the financing: "With this financing, atai is well-positioned to accelerate its efforts and achieve its goal of delivering new therapeutic options for individuals facing serious mental health challenges. We are confident that these trial results will support a robust discussion with the FDA and allow us have a clear Phase 3 plan early in 2026."
Angermayer specifically highlighted the value of Ferring Ventures' participation, noting their "deep understanding of commercialization, market dynamics, and how to build and run effective sales teams is invaluable for atai as it prepares to transform from a clinical-stage biotech into a fully integrated commercial company over time."
Jean-Frederic Paulsen, Chairman of Ferring Ventures S.A., added: "Psychedelics have demonstrated remarkable potential as a transformative class of treatments for a range of mental health conditions. atai has consistently led innovation and progress in this space, and I am pleased to expand our investment to support atai in pioneering the next generation of mental health treatments."
Transaction Details and Timeline
The private placement is subject to certain closing conditions, including the expiration of the Hart-Scott-Rodino Act waiting period related to Christian Angermayer's filing in connection with Apeiron's investment. The financing is expected to close in the third quarter of 2025.
TD Cowen, Leerink Partners, Guggenheim Securities, and Berenberg are serving as joint-lead placement agents for the private placement. The securities being issued have not been registered under the Securities Act of 1933 and will be sold in a private placement under Section 4(a)(2) of the Securities Act.
Atai has granted registration rights to the purchasers and agreed to file a registration statement with the Securities and Exchange Commission to register the resale of the common shares and shares issuable upon exercise of the pre-funded warrants.
Following the announcement, atai's stock price increased 9.13% to $2.39 in pre-market trading on the Nasdaq, reflecting investor confidence in the company's strategic direction and funding position for advancing its mental health treatment pipeline.
