ATAI Life Sciences

ATAI Life Sciences is a biotechnology drug development platform. It was set up to acquire, develop, and invest in new mental health treatments based on psychedelics and other drugs to treat mental health disorders, including depression, anxiety, and addiction. It is based in Berlin (Germany) and has offices in New York and San Diego.  

In addition to acquiring and investing, ATAI also pools resources and best practices, offering drug development expertise to companies it backs. It has 11 companies in its drug development portfolio, the majority of which are researching psychedelic substances to treat neuropsychiatric diseases. This includes a large stake in Compass Pathways and companies such as DemeRx and Perception Neuroscience. In addition to drug development, ATAI has also made investments in two companies that deliver artificial intelligence (AI)-powered discovery platforms to support drug discovery, including psychedelic compounds. The company recently formed a new subsidiary, Revixia Life Sciences, to develop therapies based on Salvinorin A, a psychedelic compound, for mental health issues. 

Funding and Financials

Founded in 2018, ATAI Life Sciences attracted investments from Peter Thiel and was the highly funded private company, before it went public on Nasdaq markets in June 2021. The company is listed under the ticker symbol “ATAI”. In August 2022, the company obtained USD 160 million as a loan facility from Hercules Capital .

For FY2022 , the company’s net losses narrowed by 10.1% YoY to USD 152.4 million, whilst  license revenue significantly decreased by 98.9% to USD 0.2 million. Cash and cash equivalents for 2022 were at USD 273.1 million compared to USD 362.3 million in 2021. In Q1 2023 , net losses reduced 10.3% YoY to USD 33.1 million.