Eli Lilly to buy AtaiBeckley for $2.8 billion upfront
Lilly agreed to acquire AtaiBeckley for $6.75 a share in cash plus CVR-linked milestone payments, while shareholder law firm Monteverde & Associates said it is investigating whether the deal is fair.
Eli Lilly and Company agreed to acquire AtaiBeckley in a deal valued at about $2.8 billion upfront, with shareholders to receive $6.75 per share in cash plus up to $2.50 per share through contingent value rights tied to development and regulatory milestones for BPL-003 and VLS-01. The transaction expands Lilly’s neuroscience pipeline with experimental mental health treatments led by BPL-003 for treatment-resistant depression. Separately, Monteverde & Associates PC said it is investigating the proposed sale to assess whether the transaction is fair to shareholders.
- Contingent Value Right (CVR): A contractual right that can provide shareholders additional payments if specified milestones are achieved after a deal closes.
- Breakthrough Therapy Designation: An FDA program intended to speed development and review of drugs for serious conditions when early evidence suggests substantial improvement.
- neuroplastogens: Drug candidates designed to promote neural connectivity and restore synaptic plasticity in the brain.