India, July 16 -- Drug major Eli Lilly and Co. (LLY) and biopharmaceutical company AtaiBeckley, Inc. (ATAI) announced Thursday a definitive agreement for Lilly to acquire AtaiBeckley in an all cash deal valued up to $3.8 billion. The proposed deal expands Lilly's neuroscience pipeline to address some of the most challenging conditions in mental health.
AtaiBeckley's lead program, BPL-003 (mebufotenin benzoate), is designed to provide durable relief from treatment-resistant depression. It is also advancing a pipeline of rapid-acting neuroplastogens, including multiple clinical-stage programs and a discovery pipeline of next-generation compounds.
Under the terms of the agreement, Lilly will acquire all outstanding shares of AtaiBeckley comm...