Atai Life Sciences, a Nasdaq-listed psychedelic medicine company founded in 2018, has announced plans to acquire UK-based Beckley Psytech in an all-stock transaction valued at approximately $390 million. The deal, which will rename the combined entity as Atai Beckley, is contingent on positive Phase 2b clinical trial data for Beckley’s 5-MeO-DMT treatment. Atai retains the right to walk away if the trial data does not meet prespecified criteria. The acquisition aims to establish Atai Beckley as a global leader in psychedelic therapies for mental health conditions. The company plans to raise $30 million from investors including Adage Capital and Ferring Ventures. Atai’s stock rose 11.5% on the announcement, contributing to a 72% increase on a monthly basis. The merger occurs amid growing support for psychedelic medicine, including from the Trump administration. Peter Thiel is among the backers of Atai Life Sciences.