QC·VENTURES: ATAI CLOSES $24M CONVERTIBLE ROUND

ATAI successfully closed a $24mn convertible funding round in March as it nears IPO. The round includes Peter Thiel (co-founder PayPal), Steve Jurvetson (board member Tesla and SpaceX) and Maryanna Saenko (Futures Ventures) among other new and existing investors. Since 2018, ATAI has cumulatively raised more than €80mn in 3 rounds and it is now recognised as the world’s leading mental health biotech company. QC·VENTURES is a happy investor in supporting ATAI’s vision since the first round.

ATAI is also one of the main investors in COMPASS Pathways, which earlier this week secured $80mn in Series B round. COMPASS Pathways uses ATAI’s platform for drug development process as it conducts the world’s first large-scale psilocybin therapy clinical trial. The company received FDA Breakthrough Therapy designation for its programme of psilocybin therapy in treatment-resistant depression in 2018.

Since Series B round in March 2019, ATAI acquired additional compounds to cover all key mental health indications. Additionally, its platform companies have further developed the drug pipeline and advanced in clinical trials. The company also broadens its board of directors prior to an IPO. In this round, Jason Camm, managing director and chief medical officer at Thiel Capital, has joined the board.

The news first appeared on Bloomberg: Read article here