MomsSpaghetti
1 월 전
Subject: atai: I have increased my stake from 19.9% to 22.3% by investing 22.75m USD
Dear Friends!
I am very happy to announce that within the recently completed capital raise of atai Life Sciences (Nasdaq: ATAI) of a total of USD 63.25 million (in gross proceeds, including full exercise of the “greenshoe”, less costs), my family office, Apeiron Investment Group (www.apeiron-investments.com), has invested USD 22.75 million, which equals approximately 36% of the total offering.
With this step, as reported in Form 13-D (https://ir.atai.life/node/8796/html), Apeiron has increased its stake in atai from 33,885,999 shares to 44,721,717 shares, increasing Apeiron’s ownership stake from 19.9% to 22.3%.
Here is the news about completion of the offering: https://ir.atai.life/news-releases/news-release-details/atai-life-sciences-announces-closing-public-offering-and-full
I personally believe that psychedelic medicines will be a game-changer for mental health issues, and that the next two years will be decisive for the industry, and especially for atai as a (if not, the) leader in the space.
The most comprehensive overview is still my blog post from last year: https://christianangermayer.substack.com/p/atai-life-sciences
Here are some reasons why I chose to increase my stake now – as always, publicly available information only, and this represents my personal view as founder and largest shareholder of atai:
1. As reported by atai, the capital increase extends runway into 2027
2. J&J’s Spravato (Esketamine) – which takes approximately two hours to apply – has become a blockbuster drug according to figures released by J&J.
1. Esketamine IMHO is like a “semi-psychedelic” in that it is weaker but gives us a preview of the potential power of “real” psychedelics.
2. While it had a slow start, Spravato sales are really picking up now, which is all the more impressive when you consider that only ~ 55k patients are treated with Spravato per year so far. I personally believe that in a few years this will be hundreds of thousands, potentially millions of patients.
3. As outlined in my previous blog posts, I deeply believe that once approved, psychedelic therapies will soon outperform the conservative analysts’ expectations. IMHO, they are not “last resort treatments”, but treatments with a very broad use case, potentially following the “Ozempic playbook”.
4. See my views on the broader topic of “Human Enhancement” here: https://christianangermayer.substack.com/p/the-future-is-enhanced
3. The two-hour treatment window established by Spravato is the most interesting one to me commercially because:
1. The shorter, the better in terms of clinician and patient burden and ultimate commercial viability, and
2. There is an existing delivery infrastructure now, thanks to Spravato.
3. Two of atai’s compounds – DMT and 5-Meo-DMT – are designed to fall into this window.
4. atai has four Phase 2 catalysts/top line read-outs before the end of Q1/2026, two of which are designed to fit into the “Spravato two-hour window”, namely:
1. Phase 2b for 5-MeO-DMT (indication: treatment resistant depression/TRD), anticipated mid this year (via atai’s 35% stake in Beckley Psytech)
2. Phase 2b for RL-007 (cognitive impairment associated with schizophrenia/CIAS), anticipated mid this year (via atai’s 51.9% stake in Recognify Life Sciences)
3. Phase 2 for DMT (TRD), anticipated in Q1 2026 (fully owned program)
4. Phase 2a for R-MDMA (social anxiety disorder/SAD), anticipated in Q1 2026 (fully owned program)
5. The failure of Lykos/MAPS has proven to me that the for-profit, medical model is the right one. As racemic MDMA is IMHO most likely off the table for good, atai’s R-MDMA is emerging as the public front runner.
6. I personally expect that there will be consolidation - and I believe atai will be the driver (e.g., atai’s publicly-disclosed ability to exercise warrants it holds in Beckley at a fixed valuation to just below 50%).
7. Patents and medical viability matter. The universe of “real” psychedelics companies is much smaller than many investors realize, as I still see companies out there doing “studies” and pretending they’re heading towards approval without having a solid patent position and/or a reasonably short = medical viable treatment window.
8. The new US administration is outspokenly psychedelic-friendly.
I also believe atai has been too quiet about its successes and strategic positioning, something that I believe needs to change. Stay tuned.
All the best,
Christian
MomsSpaghetti
1 월 전
Psilera Inc. & atai Life Sciences Announce Licensing Agreement for DMT Patent Portfolio
https://www.prnewswire.com/news-releases/psilera-inc--atai-life-sciences-announce-licensing-agreement-for-dmt-patent-portfolio-302380822.html
atai acquires all rights to Psilera's DMT patents and patent applications expanding its intellectual property portfolio
Both companies are working to advance next-generation neuroplastogen medicines to treat CNS disorders
TAMPA, Fla. and NEW YORK and BERLIN, Feb. 20, 2025 /PRNewswire/ -- Psilera, Inc. ("Psilera"), a biotechnology company developing groundbreaking therapies for hard-to-treat neurological disorders and atai Life Sciences ("atai"), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, today announced a licensing agreement (the "Agreement") under which atai has acquired Psilera's DMT (N,N-dimethyltryptamine) patent portfolio, including all granted and pending patents related to DMT and other related psychedelics.
"We're pleased to collaborate with atai on the DMT patent portfolio given their leadership in psychedelic drug development," said Dr. Chris Witowski, Co-Founder and CEO of Psilera. "This outcome helps us to advance the clinical development of our lead asset PSIL-006 in frontotemporal dementia and our leading next-generation neuroplastogen pipeline."
Dr. Srinivas Rao, Co-Founder and CEO of atai, added, "This agreement strengthens our DMT patent portfolio and enables us to further explore the therapeutic potential of DMT for a range of disorders. It also allows us to potentially expand into several other formulations."
Since its founding in 2019, Psilera has developed and patented several DMT-specific formulations with optimized bioavailability for clinical and outpatient use across a broad range of neurological indications. Under the terms of the Agreement, Psilera will receive an upfront payment, and, assuming certain conditions are met, will be eligible for payments related to future development milestones, as well as royalties on commercial product sales.
Psilera will continue to expand its pipeline of novel neuroplastogens compounds while advancing PSIL-006 to the clinic for first-in-human trials expected in 2026.
About Psilera Inc.
Psilera is a biopharmaceutical company developing groundbreaking therapeutics for hard-to-treat neurodegenerative diseases. By utilizing their proprietary neuroplastogen drug design platform, Psilera has amassed a leading pipeline of next-generation assets including PSIL-006, a first-in-class therapeutic for the treatment of frontotemporal dementia (FTD). With a deep commitment to scientific excellence and patient centricity, Psilera is transforming the lives of individuals affected by devastating neurodegenerative diseases. Welcome to the new era of mindful medicine. For more information visit www.psilera.com.
About atai Life Sciences
atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. The Company was founded in response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to developing novel, evidence-based therapeutics to treat depression, anxiety and other mental health disorders. atai's vision is to heal mental health disorders so that everyone, everywhere can live a more fulfilled life. For more information, please visit www.atai.life.
MomsSpaghetti
2 월 전
atai Life Sciences Announces Positive Topline Results from Beckley Psytech’s BPL-003 (intranasal 5-MeO-DMT benzoate) Phase 2a Open-Label Study for Alcohol Use Disorder
https://ir.atai.life/news-releases/news-release-details/atai-life-sciences-announces-positive-topline-results-beckley
- A single dose of BPL-003, combined with relapse prevention therapy, produced meaningful and sustained reductions in alcohol use, with 50% of patients maintaining complete abstinence out to three months
- BPL-003 was well-tolerated with no serious or severe adverse events reported
NEW YORK and BERLIN, Jan. 28, 2025 (GLOBE NEWSWIRE) -- atai Life Sciences (NASDAQ: ATAI) (“atai” or “Company”), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, today announced positive topline results from Beckley Psytech’s Phase 2a open-label study of BPL-003 in 12 patients with moderate to severe alcohol use disorder (AUD). BPL-003 is a patent-protected synthetic intranasal formulation of 5-MeO-DMT benzoate designed to deliver rapid and durable treatment effects from a single dose with a short in-clinic treatment time. The results showed that a single dose of BPL-003, in combination with relapse prevention cognitive behavioral therapy, induced meaningful and sustained reduction in alcohol use and heavy drinking days (HDDs) in patients with moderate to severe AUD out to 12 weeks.
“We are encouraged by these exploratory results from Beckley Psytech, our strategic investment, which demonstrate the potential of short in-clinic psychedelic therapies to transform the treatment of substance use disorders,” stated Dr. Srinivas Rao, CEO and Co-founder of atai. “The high rates of sustained abstinence in this study are particularly promising given the significant challenges patients with alcohol use disorder face in achieving and maintaining abstinence. These findings add to the growing body of evidence supporting the potential of BPL-003 in treating serious mental health disorders. We look forward to the Phase 2b data readout of BPL-003 in treatment-resistant depression expected mid-year.”
The 12-week Phase 2a open-label study enrolled 12 patients with moderate to severe AUD and evaluated the safety, tolerability, pharmacodynamic effects and impact on alcohol use of a single dose of BPL-003, in combination with relapse prevention cognitive behavioral therapy (NCT05674929). The results demonstrated meaningful and sustained reductions in alcohol use following a single dose of BPL-003:
Mean number of alcohol units consumed per day decreased from 9.3 units to 2.2 units at Week 12
Mean percentage of HDDs, defined as consuming seven or more units of alcohol per day for women and nine or more units of alcohol per day for men, declined from 56% to 13% at Week 12
Mean number of abstinent days increased from 33% to 81% at Week 12
50% of the patients remained completely abstinent through the 12-week study
BPL-003 was shown to be well-tolerated with adverse events (AEs) being reported as mild or moderate and there were no serious or severe adverse events reported. Most patients were assessed as ready for discharge within approximately two hours.
Beckley Psytech plans to evaluate future development options for BPL-003 in substance use disorders and anticipates reporting additional clinical data from this study in publications and conferences in 2025.
About Alcohol Use Disorder (AUD)
AUD is a medical condition characterized by an impaired ability to stop or control alcohol use despite adverse social, occupational, or health consequences. The World Health Organization estimates that around 400 million people suffer with AUD worldwide, with around 3 million deaths each year attributed to the harmful use of alcohol. Currently available pharmacological treatment options are not very effective and some people with alcohol use disorder who wish to abstain from, or reduce, alcohol consumption do not achieve their treatment goal with currently approved treatment options. This contributes to an unmet need for more effective medical treatments.
About BPL-003
BPL-003 is Beckley Psytech’s patent-protected synthetic intranasal 5-MeO-DMT benzoate formulation, designed to deliver rapid and durable effects from a single dose, with a short time in clinic. PL-003 is being investigated for treatment resistant depression (TRD) and for alcohol use disorder (AUD). In a Phase 2a study TRD study, a single 10mg dose of BPL-003 produced a rapid antidepressant response in 55% of patients at Day 1, with 55% of patients in remission at Day 29 and 45% in remission at Day 85. BPL-003 demonstrated a short treatment duration, with patients deemed ready to be discharged within an average of less than two hours. Topline Phase 2b data are anticipated mid-2025.
About Beckley Psytech Ltd
Beckley Psytech Ltd. is a private clinical-stage biopharmaceutical company dedicated to improving the lives of people with neuropsychiatric disorders through the development of rapid-acting, short-duration psychedelic medicines. In January 2024, atai made a strategic investment in Beckley Psytech, resulting in a 35.5% ownership stake and 1:1 warrant coverage at a 30% premium on the primary issuances. atai holds a time-limited right of first refusal on a future sale of the company and an indefinite right of first negotiation for BPL-003 and ELE-101. atai and Beckley Psytech also agreed to collaborate on digital therapeutics, commercial and market access activities in preparation for future potential commercialization.
About atai Life Sciences
atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. The Company was founded in response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to developing novel, evidence-based therapeutics to treat depression, anxiety and other mental health disorders. atai's vision is to heal mental health disorders so that everyone, everywhere can live a more fulfilled life. For more information, please visit www.atai.life.
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