Eli Lilly to buy psychedelics biotech AtaiBeckley for $2.8 billion, adding late-stage depression drug

Eli Lilly announced it will acquire New York‑based biotech AtaiBeckley in a transaction valued at about $2.8 billion.

The agreement sets the purchase price at $6.75 per share, a 26 % premium to AtaiBeckley’s recent price, and includes contingent value rights that could add up to $2.50 per share if certain program milestones are met, potentially raising the total consideration to roughly $3.8 billion.

The companies expect the deal to close before the end of September, subject to customary closing conditions.

The acquisition will give Lilly access to several experimental compounds, the most advanced being BPL‑003, a mebufotenin‑based molecule currently in late‑stage trials for treatment‑resistant depression.