Eli Lilly announced on July 16 that it has reached a final agreement to acquire clinical-stage biopharmaceutical company AtaiBeckley for $6.75 per share in cash, with a trading equity value of approximately US$2.8 billion. Additionally, if its two candidate treatments for mental illness reach specific R&D and regulatory milestones, shareholders can also receive up to $2.50 or worth of equity per share, corresponding to a potential additional equity value of approximately $1 billion. AtaiBeckley focuses on the development of innovative treatments for mental illness. Its core product, BPL-003, is a nasal spray 5-meo-DMT preparation for treating intractable depression. It has been recognized as a breakthrough therapy by the US FDA and phase III clinical preparations have begun; another candidate product, VLS-01, is currently in phase IIb clinical trials. The transaction is expected to close in the third quarter of this year and is still subject to shareholder and regulatory approval.

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