Latest news with #Beckley
Yahoo
3 days ago
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atai Life Sciences and Beckley Psytech to Combine Creating a Global Leader in Psychedelic Mental Health Therapies
Strategic combination establishes a market-leading mental health company with a pipeline that includes potentially transformative, rapid-acting psychedelic assets differentiated by their convenient route of administration and short time-in-clinic Combined company will operate under the name atai Beckley with a joint leadership team and Board that leverage the deep psychedelic, drug development and CNS expertise within both organizations Topline data from the Phase 2b study of BPL-003 in patients with treatment-resistant depression (TRD) is expected in mid-2025 - the largest controlled trial of mebufotenin (5-MeO-DMT) and the first and only controlled trial to investigate mebufotenin in the U.S. The all-share transaction is expected to close in the second half of 2025 Concurrent $30.0M private placement by Ferring Ventures S.A. and Adage Capital Partners LP Conference call scheduled for 8:00am EDT today NEW YORK and BERLIN and OXFORD, United Kingdom, June 02, 2025 (GLOBE NEWSWIRE) -- atai Life Sciences (NASDAQ: ATAI) ('atai' or 'Company'), a clinical-stage biopharmaceutical company on a mission to develop highly effective mental health treatments to transform patient outcomes, and Beckley Psytech Limited ('Beckley'), a private clinical-stage biopharmaceutical company pioneering the next generation of mental health treatments, today announced a definitive agreement under which atai and Beckley plan to combine in an all-share transaction subject to pre-agreed BPL-003 (mebufotenin benzoate) Phase 2b success criteria. 'The strategic combination marks a transformational moment, solidifying us as a leader in rapid-acting and accessible psychedelic treatments for mental health conditions with a pipeline of potential first-in-class and best-in-class assets,' stated Srinivas Rao, M.D., Ph.D., Chief Executive Officer and Co-Founder of atai. 'With a unified vision and a synergistic pipeline, we believe we are well-positioned to unlock the strategic value of our clinical development programs for both patients and shareholders. Together, we plan to move confidently towards our goal of bringing innovative interventional psychiatry therapies to patients in need of new treatments.' Cosmo Feilding Mellen, Chief Executive Officer and Co-Founder of Beckley added, 'This combination brings together two highly complementary pipelines to create a market leader at the forefront of psychiatric care. Clinical data has shown the rapid and durable effects of our compounds, as well as their potential to fit within the existing treatment paradigm established by SPRAVATO®. We believe that the unified business will be even better positioned to accelerate development, drive long-term value for shareholders, and - most importantly - deliver meaningful innovation for patients.' 'This transaction marks a pivotal milestone in delivering on the strategic vision we set forth from the start of atai in 2018: to be the leader in the psychedelic space,' added Christian Angermayer, Co-Founder and Chairman of atai. 'I am also very pleased to announce the concurrent financing with existing investors from both companies. The continued support from Ferring Ventures, a valued investor in atai, and Adage Capital, a longstanding investor in Beckley, further validates the strength and potential of this combination.' Transaction Benefits Market-Leading Pipeline: atai Beckley will boast a synergistic fully owned pipeline that includes proprietary, rapid-acting psychedelic compounds differentiated by their convenient route of administration and short time-in-clinic. Near-Term Clinical Milestones: Topline data from the eight-week, randomized core stage of Beckley's BPL-003 Phase 2b trial in treatment-resistant depression (NCT05870540) is expected in mid-2025, representing a potentially significant value inflection point. The study builds on previously reported open-label results which demonstrated that a single dose of BPL-003, when given as a monotherapy or alongside SSRIs, was well-tolerated and could produce a rapid and lasting antidepressant effect for up to three months. Financial Synergies and Strong IP Portfolio: Cash runway through multiple Phase 2 clinical catalysts, near and long-term operational synergies, as well as a strong IP portfolio with granted U.S. patents out to 2043. Unified Vision and Team: The new entity is expected to leverage the expertise, teams, and networks of both organizations to accelerate the development and commercialization of transformative mental health treatments. Transaction Termsatai made a strategic investment in Beckley in January 2024. Under the terms of the deal, Beckley's shareholders (other than atai) will be issued approximately 105 million new shares as consideration for the remaining shares of Beckley not presently held by atai. These newly issued shares equate to approximately 31% of the combined company on a fully diluted basis, based on the treasury stock method, upon closing of the transaction and the concurrent private placement, and value Beckley at approximately $390 million. These newly issued atai shares are subject to a lock-up wherein, following the completion of the lock-up period, 1/12 of the shares are released every month. Additionally, Apeiron Investment Group, the family office of Mr. Angermayer, voluntarily entered into a similar lock-up agreement covering all of its shares in atai. Beckley also intends to distribute Eleusis Holdings Limited and its subsidiaries, which hold assets and funding related to its second clinical-stage asset, ELE-101, out of Beckley prior to closing of the transaction. Timing and Approvalsatai's Supervisory Board and Management Board and Beckley's Board of Directors have approved the transaction. The transaction is expected to close in the second half of 2025, subject to approval of the share issuance by the shareholders of atai and satisfaction of other customary closing conditions. Concurrent FinancingConcurrent with the transaction, atai also executed a $30.0 million private placement with Ferring Ventures S.A. and Adage Capital Partners LP. This financing is not contingent on closing of the transaction. The private placement is expected to close on June 3, 2025, subject to customary closing conditions. The securities being issued and sold in the private placement have not been registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state's securities laws, and will be issued and sold in a private placement in reliance on Section 4(a)(2) of the Securities Act. The securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. atai granted registration rights to the purchasers in the private placement, and has agreed to file a registration statement with the Securities and Exchange Commission (the 'SEC') registering the resale of the common shares issued in the private placement and the shares of common stock issuable upon exercise of the pre-funded warrants issued in the private placement. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Conference Callatai and Beckley will host a conference call and live webcast today Monday, June 2, 2025 at 8:00 a.m. EDT. The conference call can be accessed by dialing 1-800-715-9871 for participants in the U.S. and 1-646-307-1963 for international callers, with the Conference ID: 1459387. The webcast can be accessed on the Investors section of atai's corporate website under Events. The presentation and an archived replay of the webcast will be available in the same section of the website for a minimum of 30 days following the event. AdvisorsGuggenheim Securities is serving as financial advisor to atai and Latham & Watkins LLP is serving as its legal counsel. Cantor is serving as financial advisor to Beckley, and CMS and Mayer Brown are serving as its legal counsel. Guggenheim Securities is acting as the lead placement agent for the private placement. Berenberg is acting as joint-lead placement agent for the private placement. About atai Life Sciencesatai is a clinical-stage biopharmaceutical company on a mission to develop highly effective mental health treatments to transform patient outcomes. atai's pipeline of psychedelic-based therapies includes VLS-01 (buccal film DMT) for treatment-resistant depression (TRD) and EMP-01 (oral R-MDMA) for social anxiety disorder, which are in Phase 2 clinical development. They are also advancing a drug discovery program to identify novel, non-hallucinogenic 5-HT2AR agonists for TRD. These programs aim to address the complex nature of mental health providing commercially scalable interventional psychiatry therapies that can integrate seamlessly into healthcare systems. For the latest updates and to learn more about atai's mission, visit or follow the Company on LinkedIn and on X. About Beckley Psytech Beckley Psytech Ltd is a private biopharmaceutical company dedicated to improving the lives of people living with neuropsychiatric disorders by developing rapid-acting psychedelic medicines. Founded in 2019, and underpinned by more than two decades of pioneering scientific research from the Beckley Foundation, Beckley Psytech combines world-leading psychedelic science with extensive drug development expertise in order to optimise patient outcomes, improve treatment opportunities and ease the burden neuropsychiatric conditions have on individuals, healthcare systems and society. For more information about Beckley Psytech, visit or follow the Company on LinkedIn. About BPL-003BPL-003 is Beckley Psytech's patent-protected, proprietary intranasal formulation of mebufotenin benzoate, administered via a nasal spray device used in a previously approved drug product. BPL-003 is designed to deliver rapid and durable effects from a single dose, with a short time in the clinic, and is being investigated as a potential therapy for treatment resistant depression (TRD) and for alcohol use disorder (AUD). BPL-003 is covered by granted US, UK and European composition-of-matter patents, with multiple further claims pending in various jurisdictions. Forward-looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). The words 'believe,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'anticipate,' 'initiate,' 'could,' 'would,' 'project,' 'plan,' 'potentially,' 'preliminary,' 'likely,' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements include express or implied statements relating to, among other things: expectations regarding the closing of the transaction, including timing and approvals; expectations regarding operations of the combined company, including strategic value of the clinical development programs for patients and shareholders as well as expectations regarding financial synergies; timing and results of Beckley's BPL-003 Phase 2b trial and related data readouts; expectations regarding Beckley's other clinical assets, including ELE-101; expectations regarding the concurrent private placement, including related closing conditions; our business strategy and plans; and the potential, success, cost and timing of development of our product candidates, and the product candidates of those companies we invest in. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, the important factors described in the section titled 'Risk Factors' in our most recent Annual Report on Form 10-K filed with the SEC, as such factors may be updated from time to time in atai's other filings with the SEC. atai disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by applicable law. No Offer or Solicitation This communication is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. Additional Information and Where to Find It This press release is being made in respect of the proposed transaction between the Company and Beckley Psytech Limited. In connection with the proposed transaction, the Company will file with the SEC a proxy statement on Schedule 14A (the 'Proxy Statement'), as well as other relevant documents regarding the proposed transaction. This press release is not a substitute for the Proxy Statement or any other document which the Company may file with the SEC. INVESTORS ARE URGED TO READ IN THEIR ENTIRETY THE PROXY STATEMENT REGARDING THE TRANSACTION WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. A free copy of the Proxy Statement, as well as other filings containing information about the Company, when such documents become available, may be obtained at the SEC's website ( Participants in the Solicitation The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from its shareholders in respect of the proposed transactions contemplated by the Proxy Statement. Information regarding the persons who are, under the rules of the SEC, participants in the solicitation of the shareholders of the Company in connection with the proposed transactions, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement when it is filed with the SEC. Information regarding the Company's directors and executive officers is contained in its Annual Report on Form 10-K for the year ended December 31, 2024 and its Proxy Statement on Schedule 14A, dated April 21, 2025, which are filed with the SEC. Contact InformationInvestor Contact:IR@ Media Contact:PR@ Beckley media contact: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- General
- Yahoo
Beckley Crossroads Mall evacuated due to ‘unconfirmed emergency'
BECKLEY, WV (WVNS) – Customers and workers at the Crossroads Mall in Beckley were alarmed when they were told to evacuate the premises. Bradley Prosperity Volunteer Fire Department, along with EMS are currently on scene. The cause of the evacuation is still unconfirmed at this time. Stick with 59News for more info on this ongoing story. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
4 days ago
- General
- Yahoo
New historical marker unveiled at 2025 Beckley Founder's Day
BECKLEY, WV (WVNS) – History enthusiasts were in for a treat at this year's edition Beckley Founder's Day. Planned PEIA rate increases elicit concern from lawmakers and policyholders Their Founder's Day is a celebration of Beckley's history, as well as its founder Alfred Beckley. They started off celebrations at the Wildwood House Museum by welcoming everyone in followed by Woodrow Wilson High School's JROTC group presenting a flag to their Alfred Beckley re-enactor. The JROTC led everyone across the street to the Wildwood Cemetery, where they placed a wreath next to Alfred Beckley's grave. '[Alfred Beckley] did so much for the town and people forget that. I mean, people forget this place was pretty much deserted. This was a wilderness when he moved here. To take it from Wildwood, literally – that is what the house is called – so, take it from that to the bustling city it is today. We have him to thank,' said Rebekah Graham, the president of the Raleigh County Historical Society. 'Oh, [portraying Alfred Beckley] is fantastic. I thoroughly enjoy it. We always have a great time here with the other re-enactors and the people that portray the daughter, the wives, and [Beckley]. It is just a lot of fun and enjoyment to remember the history of Beckley and remember what Alfred Beckley was to this town, to this county, and to the state of West Virginia,' said Mike Vaughan, Alfred Beckley's re-enactor. Beckley was a multi-talented person. He served as a Confederate general, as well as in the United States Army. He was the first postmaster in Raleigh County, plus a schoolteacher, school superintendent, and a West Virginia and Virginia delegate, to name a few of his accomplishments. Beckley founded Beckley, as well as the Wildwood House. Robotics team visits local elementary school to show off their skills This year's celebrations were extra special, as they unveiled the Wildwood House Museum's newest historical marker. This was made in partnership with the national Civil War Trails organization. It designates this museum as a site on its Civil War Trails network. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
27-05-2025
- General
- Yahoo
Greenock youngsters dream of league and cup double after dramatic shoot-out win
GREENOCK Juniors' 2008 squad are out to complete a league and cup double this weekend – after advancing to the final of their Divisional Cup tournament in dramatic fashion. While most of the weekend's penalty shoot-out headlines were being made by Aberdeen at Hampden, Jimmy Thelin's squad weren't the only team to enjoy a nail-biting sudden death victory, with the Nock 2008s withstanding a dramatic comeback from their opponents, OLA Union, to triumph from the spot. Jay Beckley's hat-trick opened up a 3-0 lead for the Nock youngsters at half-time – but if any of the Greenock players or coaches felt that it was 'job done' with 45 minutes still to play, they were given a rude awakening after the break. Jay Beckley scored a first-half hat-trick before being sent off after the interva;. (Image: Social media) First, Beckley blotted his copybook when he was shown a red card by referee William Johnstone, and with a man advantage, OLA roared back into contention, reducing the leeway to two goals and then to one before levelling at 3-3 with the last kick of the ball. Thankfully for those involved from a Greenock perspective, the Nock's players managed to recover their poise for the resulting shoot-out, running out 4-1 winners, with William Hudson, Dylan Andrew, Kyle Dorrian and Braiden Millerall on target from the spot. Goalkeeper Jack Hardie, who had made some crucial saves during the 90 minutes, produced two excellent stops during the shoot-out to pave the way for the Nock to advance. Man of the Match was Ruaridh Davidson who was outstanding from start to finish. READ MORE: Greenock 2008s secure league title in style with spectacular 9-1 win The team can now look forward to the final this Sunday at the King George V facility in Renfrew against Drumchapel United. Kick off is at 10am. The team have already won their league and it is a great opportunity to add a further trophy and make an impressive season even more special. The boys have a scheduled league match on Tuesday night, also against Drumchapel, which will allow the free-scoring Beckley to serve his suspension and ensure he is eligible for the final. Greenock's 2008 squad reached their divisional cup final - but their 2009 counterparts just missed out. (Image: Meanwhile, Greenock's 2009 squad narrowly failed in their bid to follow in the footsteps of their older clubmates when they lost 2-1 away to Knightswood in the semi-final of their divisional cup. Tyler Boyland scored the Nock's goal and was also man of the match. Despite the disappointment of losing in the semi-final the group can look back on a very satisfactory first season. They went through a difficult period in early autumn, but have developed very impressively since then; finishing a very creditable sixth in Division One of the PJDYFL, as well as reaching Saturday's semi-final and bringing on a very talented group of players. The 2009s can now look forward to a well-earned summer break, though it won't be long before they're raring to go in 2025-26.
Yahoo
24-05-2025
- General
- Yahoo
Raleigh County Veterans and First Responders Museum to honor veterans for Memorial Day Weekend
BECKLEY, WV (WVNS) – The Raleigh County Veterans and First Responders Museum will be opening its doors the public for Memorial Day weekend. Less than a year after moving to its new location at the former State Police barracks in Beckley, the museum has brought in countless historical artifacts for display, many of which were donated by veterans locally and from around the country. Raleigh County Veterans and First Responders Museum President, Ron Hedrick told 59News he plans to eventually open the museum on a full-time basis, and that it is his hope the facility can be about more than just recognizing veterans and can be a direct resource for the veterans themselves.'We kind of hope that the museum will be like a beacon to veterans who just need a place to hang out,' he said. 'Maybe a place to unload, come and meet other veterans, hang out, talk, and have a cup of coffee – and maybe they'll find a home.'Hedrick and museum staff will be on-hand Saturday morning for the annual memorial service at the American Legion Veterans Cemetery at 9:00 a.m., after which the museum doors will open to the community at 10:00am to 5:00pm. Guests will be able to check out museum exhibits, grab a hotdog, and maybe even take home some prizes donated by local businesses as part of a raffle to benefit the museum. Folks are also welcome to attend a candlelight service at the American Legion Veterans Cemetery on Sunday night, where the Salvation Army Brass band will be putting on a performance of patriotic numbers. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
