Eli Lilly to acquire psychedelic drugmaker AtaiBeckley for $2.8 billion

Eli Lilly to acquire psychedelic drugmaker AtaiBeckley for $2. 8 billion Eli Lilly to acquire psychedelic drugmaker AtaiBeckley for $2. 8 billion · Quartz · jetcityimage / Getty Images Cris Tolomia Thu, July 16, 2026 at 1:10 PM GMT+2 2 min read LLY Eli Lilly has agreed to acquire AtaiBeckley, a clinical-stage biotechnology company developing psychedelic-based mental health treatments, for $6.

75 per share in cash, or roughly $2. 8 billion, the company said Thursday. Beyond the upfront price, Lilly has agreed to pay as much as $2.

50 more per share — roughly $1 billion — contingent on AtaiBeckley's drugs clearing specified development and regulatory thresholds, according to CNBC . The acquisition price represents a premium of roughly 40% to AtaiBeckley's 30-day volume-weighted average trading price, the company said. AtaiBeckley's lead drug, BPL-003, is a synthetic DMT compound delivered via nasal spray; patients receive it in a clinic and are typically observed for around two hours.

In a Phase 2b study, the drug demonstrated reductions in depressive symptoms that persisted for months following a single visit, the company said. BPL-003 has received Breakthrough Therapy Designation from the FDA, and Phase 3 trial results are expected in 2029, according to CNBC. AtaiBeckley's pipeline also includes VLS-01, a DMT buccal film for treatment-resistant depression, and EMP-01, an (R)-MDMA compound for social anxiety disorder, the company said.

"Treatment-resistant depression persists even after multiple treatments have failed. Millions of people are still searching for relief and desperately need a therapy that works," Lilly said in a statement. The transaction is expected to close in the third quarter, subject to approval by AtaiBeckley stockholders and customary regulatory approvals, the company said.

AtaiBeckley stock climbed more than 30% in premarket trading following the announcement. The deal is the latest in a string of acquisitions Lilly has pursued this year as it expands beyond its core obesity and diabetes drug business. Lilly had already agreed to acquire three vaccine developers — Curevo, LimmaTech Biologics, and Vaccine Company — in deals worth up to roughly $3.

8 billion combined, along with sleep drug developer Centessa Pharmaceuticals for $7. 8 billion and cell therapy company Kelonia Therapeutics for up to $7 billion. Heading into Thursday's deal, Lilly had already pledged in excess of $10 billion in upfront payments across eight separate acquisitions in 2026.