Eli Lilly has agreed to aquire AtaiBeckley, a clinical-stage biopharmaceutical company developing innovative therapeutics for mental health conditions, in a deal worth 2.8bn.
AtaiBeckley is advancing a pipeline of rapid-acting neuroplastogens, including multiple clinical-stage programmes and a discovery pipeline of next-generation compounds. The lead asset, BPL-003 (mebufotenin benzoate), is a synthetic form of 5-MeO-DMT administered intranasally for treatment-resistant depression, which affects millions of people in the US.
Emerging research indicates that treatment-resistant depression and other serious mental health conditions may involve a loss of synaptic plasticity, the brain’s ability to form and strengthen connections in regions critical to mood regulation. AtaiBeckley’s therapies are designed to restore synaptic connectivity and aim to promote the growth of new neural connections, offering a distinct mechanism from conventional antidepressants that primarily target neurotransmitter levels.
“Treatment-resistant depression persists even after multiple treatments have failed. Millions of people are still searching for relief and desperately need a therapy that works,” said Carole Ho, executive vice president and president, Lilly Neuroscience. “Advancing AtaiBeckley’s investigational therapies gives us a real chance to change that.”
In a phase 2b study, BPL-003 demonstrated rapid and durable reductions in depressive symptoms following an in-clinic visit lasting approximately two hours on average, with beneficial effects persisting for months. BPL-003 has been granted Breakthrough Therapy Designation by the US FDA and has initiated phase 3 activities. VLS-01, the second most advanced programme of the pipeline, is a buccal film formulation of DMT advancing in an ongoing phase 2b study.
“Across our portfolio, we’re seeking to demonstrate that psychiatric illness is treatable at its biological root, not just its symptoms,” said Srinivas Rao, co-founder and CEO of AtaiBeckley.