Eli Lilly and Co (NYSE:LLY) on Thursday agreed to acquire AtaiBeckley Inc.
(NASDAQ:ATAI) in a deal that values the clinical-stage mental health biotechnology company at up to approximately $3.8 billion, strengthening Lilly's portfolio of rapid-acting therapies for treatment-resistant depression and other psychiatric disorders.
Deal Includes Cash Payment And Milestone-Based Rights Lilly will pay AtaiBeckley shareholders $6.75 per share in cash.
Shareholders will also receive a contingent value right (CVR) worth up to an additional $2.50 per share if specified development and regulatory milestones are achieved for BPL-003 and VLS-01.
The upfront cash consideration values AtaiBeckley at approximately $2.8 billion, while the CVR could add up to about $1.0 billion in additional value.
