Peter Thiel, co-founder of PayPal Inc.
VCG | Getty Pictures
ATAI Life Sciences, a biopharmaceutical firm aiming to make psychedelic medicine to deal with psychological well being issues, introduced that it’s planning to lift $100 million in an preliminary public providing.
The Berlin-headquartered firm, which counts billionaire investor Peter Thiel as one in all its principal backers, submitted an S-1 submitting to the Securities and Trade Fee on Tuesday.
The submitting exhibits that ATAI has raised an combination of $362.3 million from personal traders thus far.
It’s planning to promote its shares on New York’s tech-focused Nasdaq market below the image ATAI. A date for the IPO has not been set.
Underwriters for the IPO embrace Credit score Suisse, Citigroup, Cowen, and Berenberg.
ATAI, which describes itself as a drug growth platform, was set as much as purchase, incubate and develop psychedelics and different medicine that can be utilized to deal with despair, anxiousness, dependancy and different psychological well being situations.
The corporate, which has roughly 50 employees in workplaces throughout Berlin, New York and San Diego, is at the moment partnered with 14 firms specializing in drug growth and different applied sciences. In alternate for a majority stake within the medicine and applied sciences they’re growing, ATAI helps the scientists to lift cash, work with the regulators, and conduct medical trials. None of ATAI’s medicine have been formally accepted by regulators thus far.
Thiel made a ten million euro ($12 million) funding in ATAI by his enterprise agency, Thiel Capital, in November.
“ATAI’s nice advantage is to take psychological sickness as critically as we should always have been taking all sickness all alongside,” Thiel, who co-founded Palantir and PayPal, mentioned in a press release shared with CNBC on the time. “The corporate’s most dear asset is its sense of urgency.”
The corporate was based in 2018 by entrepreneurs Christian Angermayer, Florian Model, Lars Wilde and Srinivas Rao. It has invested in Compass Pathways, which has developed an artificial model of the lively ingredient in magic mushrooms, psilocybin.
Compass Pathways, which Thiel has additionally invested in, listed on the New York’s NASDAQ inventory alternate in September and now has a valuation of round $1.3 billion.