AtaiBeckley, a clinical-stage biotechnology company developing rapid-acting, durable and convenient mental health treatments, has agreed to be acquired by Eli Lilly and Company for up to $3.8 billion.
The upfront cash consideration represents an equity value of $2.8 billion and the contingent value right represents an additional potential equity value of $1 billion.
S&C is advising Apeiron Investment Group, the largest stockholder in AtaiBeckley. Apeiron entered into a voting agreement in connection with the transaction.
The S&C team advising Apeiron is led by Brad King and includes Matt Hurd and Spencer Nord.