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Psychedelics Startup Atai Inks Largest Fundraise In Sector History With $157M Series D

March 3, 2021 4:21 pm
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Psychedelics Startup Atai Inks Largest Fundraise In Sector History With $157M Series D

Psychedelics and mental health company Atai Life Sciences has raised $157 million in venture capital.

The Series D funding round is being touted as the psychedelics sector’s largest to date.

Christian Angermayer, who founded Atai in 2018, led the effort with Thiel Capital, the venture capital firm of tech billionaire Peter Thiel.

Apeiron Investment Group and Woodline Partners LP also participated.

“We are excited to continue supporting atai, the only company in neuropsychiatry today that is thoughtfully pursuing platform diversity alongside scientific depth. The company is well-positioned to deliver on the vision of its founders by creating a new wave of therapies for patients in need,” said Jason Camm, Managing Director and Chief Medical Officer of Thiel Capital.

Atai’s portfolio companies are researching 13 different psychedelic and non-psychedelic compounds for treatment of a wide range of mental health disorders. Atai is an early investor and holds a significant stake in Compass Pathways (NASDAQ:CMPS).

Atai CEO and Co-Founder Florian Brand said that the Berlin-based company is determined to improve care and innovate, with support from its investors.

Last November, Atai closed a Series C financing round for $125 million. A spokesperson told Benzinga that the company is expected to list on NASDAQ during 2021, but exact dates are still to be confirmed.

Credit Suisse and Citigroup are advising the IPO process.