Breaking: atai plans to acquire Beckley if Phase 2b intranasal 5-MeO-DMT (BPL-003) meets TRD endpoints

5-MeO-DMT developer atai Life Sciences is moving to acquire Beckley Psytech in a deal that would create an atai Beckley entity. The transaction depends on results from Beckley’s Phase 2b study of intranasal 5-MeO-DMT (candidate BPL-003) in treatment-resistant depression (TRD). If the predefined criteria are not met in the readout, atai can walk away from the deal. The proposed merger is described as an all-share transaction valuing Beckley at around $370M, with additional financing noted as atai close on a $30M private placement by existing investors. The timeline for the Phase 2b data is expected around mid-2025, making the acquisition effectively conditional on near-term clinical outcomes.