atai Life Sciences Announces Close of $157 Million Financing Round

atai Life Sciences, a biopharmaceutical firm developing psychedelic and non-psychedelic compounds for mental health disorders, announced on Wednesday that it has closed a $157 million Series D round of financing. The company has been valued at about $2 billion ahead of a previously announced public offering, according to a Bloomberg report published by Yahoo Finance.

The latest funding round was led by existing investors Apeiron Investment Group, the family office of founder Christian Angermayer and Thiel Capital, along with new investor Woodline Partners.

The company said in a news release that it plans to use the funds raised to support expansion and development of its drug candidate pipeline and enabling technologies, as well as advance current clinical developments and expand its staff.

atai Life Sciences is headquartered in Berlin and also operates offices in New York.