ReeLai acquires Atai Beckley for $2.8 billion, expanding its pipeline for treating treatment-resistant depression.

Reelei announced on July 16th that they have reached a final agreement to acquire the clinical-stage biopharmaceutical company AtaiBeckley for $6.75 per share in cash, with a total equity value of approximately $2.8 billion. In addition, shareholders may receive up to $2.50 per share in cash or valuable rights if their two candidate therapies for mental illnesses reach certain research and regulatory milestones, corresponding to a potential additional equity value of about $1 billion. AtaiBeckley focuses on the development of innovative therapies for mental illnesses, with their core product BPL-003 being a nasal spray formulation of 5-MeO-DMT for treatment-resistant depression. It has received FDA breakthrough therapy designation and has initiated Phase III clinical preparation. Another candidate product, VLS-01, is currently in Phase IIb clinical trials. The transaction is expected to be completed in the third quarter of this year, subject to shareholder and regulatory approval.