Eli Lilly to buy psychedelics biotech AtaiBeckley for $2.8 billion
read at STAT ↗DealPositive
Eli Lilly announced it will acquire AtaiBeckley, a biotech focused on psychedelic therapies for mental health, for an upfront cash payment of $2.8 billion.
The purchase adds a new dimension to Lilly’s neuroscience portfolio and follows a series of recent deals funded by the strong cash flow from its GLP-1 medicines.
The agreement also includes a possible additional $1 billion tied to the achievement of specific development and regulatory milestones.
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This writeup was produced by pharmadog from original reporting by STAT.
Original headline: “STAT+: Eli Lilly to acquire psychedelics-focused biotech AtaiBeckley”
read at STAT ↗475 words · retrieved Jul 16
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