NEW YORK– Atai Life Sciences are priming to become the second psychedelics company to list on a major U.S. exchange, following COMPASS Pathways (to which Atai is connected). The German headquartered biotech firm filed Tuesday with the SEC to raise $100 million in an IPO using the ticker symbol “ATAI.”
With a portfolio of about 12 companies, Atai is an aggretator of mental health startups providing alternative solutions to mental health treatment. It also provides support to other ventures in the same arena. Its portfolio includes companies develpoing therapies involving Ketaime, MDMA, ibogaine and DMT. Atai’s revenue stream is still dependent on the regulatory approval of the compounds and treatments in its pipeline.
Its portfolio includes companies develpoing therapies involving Ketaime, MDMA, ibogaine and DMT.
Atai’s revenue stream is still dependent on the regulatory approval of the compounds and treatments in its pipeline.
Backed by investor Peter Thiel, (pictured), Atai owns a 25% stake in Compass Pathways (NASDAQ: CMPS), a company developing psilocybin products for psychedelics-assisted psychotherapy, which debuted on Wall Street in September of last year.
Atai also provides companies in its portfolio with R&D infrastructure, legal, financial and accounting operations.
“The common thread, the bridge across all of these companies is the Atai personnel. We are heavily, heavily operationally involved, certainly on the development side, but beyond in all of these companies,” Srinivas Rao, chief scientific officer at Atai, said in a recent interview reported by Yahoo Finance.
(This information is primarily sourced from Atai and other sources. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).Credit: Getty Images/John Lamparski