https://www.msn.com/en-us/health/other/ataibe...mp;wcseo=1
AtaiBeckley (ATAI) is in talks with advisors to explore strategic options for BPL-003, its lead psychedelic drug candidate, seeking at least $2B in a potential deal, Bloomberg reported on Saturday, citing people familiar with the matter.
The company, formed in November as a merger between atai Life Sciences and Beckley Psytech, is weighing a partnership or an outright sale of BPL-003, which is on track to enter Phase 3 development in Q2, targeting depression, the people said.
The company has selected Jefferies (JEF) and JPMorgan Chase (JPM) to lead discussions with other pharmaceutical firms as it seeks $2B or more for the drug, designed as an intranasal formulation of the psychedelic compound mebufotenin.
ATAI is also weighing the possibility of signing a co-commercialization agreement under which it will share costs for late-stage development and marketing of the drug while splitting revenues and profits.
A royalty deal is also on the radar, some of the people said, adding that the New York-area biopharma, whose backers include billionaire Peter Thiel, is looking to complete the discussions in Q2.
The plans are still ongoing, and the company has not yet made a final decision, the people said, requesting anonymity as the information is not yet public.