ATAI Life Sciences, a Munich, Germany-based global biotech platform company that is focused on curing mental health disorders, announced it has raised $43 million (EUR 38 million) in funding. Christian Angermayer (founder), Lars Wilde (co-founder), and Florian Brand (co-founder and CEO) founded ATAI Life Sciences in 2018 with a decentralized and big data platform approach to drug development.
With this funding round, ATAI will be further investing in its platform to develop the existing drug pipeline and acquire additional compounds. This round of funding was led by Subversive Capital. Apeiron Investment Group, Bail Capital, and Efrem Kamen (Pura Vida Investments founder) also participated in this round.
“Our lean setup allows us to spread knowledge, resource and best practice across our platform, ensuring we can discover and develop compounds more efficiently and effectively. I am very proud that we have been able to assemble such a world-class group of leading researchers, computer scientists, entrepreneurs and investors for our mission to enable people to live healthier and happier lives,” said Angermayer.
To develop paradigm-shifting and formerly stigmatized compounds with prior evidence for efficacy and safety in humans, ATAI Life Sciences leverages expertise and technology to accelerate the pace at which compounds move through early-stage clinical trials. ATAI is initially focused on developing solutions for the 300 million people who suffer from depression — which is a significant unmet medical need.
“Mental illnesses such as depression are debilitating for so many people. And 100 million patients have treatment-resistant depression and don’t respond to existing medicines,” added Brand. “The companies on our platform are developing extremely promising candidates to treat mental health disorders and bring a much-needed paradigm shift.”
Earlier this year, ATAI acquired Perception Neuroscience and the company is now developing arketamine therapy for neuropsychiatric diseases. ATAI is also the largest investor in COMPASS Pathways, which is developing psilocybin therapy for treatment-resistant depression. The FDA awarded COMPASS Pathways with a Breakthrough Therapy designation in October 2018. ATAI’s portfolio also includes Innoplexus, a company that delivers big data and artificial intelligence solutions to big pharma and biotech companies. And it provides the technology ATAI will use to power its in-house drug discovery and development.
“It is such a privilege to be investing in a company that’s poised to make significant medical breakthroughs and find treatments that could help so many people,” explained Subversive Capital partner Michael Auerbach.
