AtaiBeckley Seeks Partner for BPL-003 as Pharma Interest Builds After AbbVie-Gilgamesh Deal

AtaiBeckley is in structured discussions with pharma companies and royalty investors about a potential partnership for its lead candidate, intranasal 5-MeO-DMT (BPL-003) for treatment-resistant depression (TRD), sources close to the company told Psychedelic Alpha. The talks, first reported by Bloomberg on Saturday, are being advised by Jefferies, JP Morgan, and TD Cowen, and could conclude as early as April.

Such discussions were initially the result of inbound interest in the aftermath of the AbbVie-Gilgamesh transaction, with unsuccessful bidders from that deal apparently on the hunt for another short-acting psychedelic candidate. Having been approached by several pharmaceutical companies, the sources told us, AtaiBeckley decided to engage in a more structured process.

AtaiBeckley does not intend to sell the intranasal 5-MeO-DMT asset outright, those sources were keen to stress to Psychedelic Alpha. Instead, it is exploring...