ATAI ATAI Life Sciences N.V.

14.77
-0.4  -3%
Previous Close 15.17
Open 15
52 Week Low 12.12
52 Week High 22.91
Market Cap $2,286,688,092
Shares 154,819,776
Float 114,161,264
Enterprise Value $1,814,154,520
Volume 196,588
Av. Daily Volume 291,100
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Upcoming Catalysts

Drug Stage Catalyst Date
COMP360
Treatment Resistant Depression
Phase 2b
Phase 2b
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RL-007
Cognitive Impairment Associated with Schizophrenia
Phase 2
Phase 2
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Ibogaine HCl (DMX-1002)
Opioid use disorder
Phase 1/2
Phase 1/2
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GRX-917
Healthy volunteers
Phase 1
Phase 1
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PCN-101
Treatment Resistant Depression
Phase 2a
Phase 2a
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VLS-01
Treatment Resistant Depression
Phase 1
Phase 1
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RLS-01
Treatment Resistant Depression
Phase 1
Phase 1
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Drug Pipeline

Drug Stage Notes
KUR-101
Opioid Use Disorder
Phase 1
Phase 1
Phase 1 clinical trial to commence in early 2022.
EMP-01
Phase 1
Phase 1
Phase 1 clinical trial to commence mid-2022.
NN-101
Healthy volunteers
Phase 1
Phase 1
Phase 1 clinical trial to be initiated in Australia in mid-2021.

Latest News

  1. NEW YORK and BERLIN, Oct. 19, 2021 (GLOBE NEWSWIRE) -- atai Life Sciences (NASDAQ:ATAI) ("atai"), a clinical-stage biopharmaceutical company, today announced the launch of its new philanthropic program, atai Impact, in line with atai Life Sciences' vision, to heal mental health disorders so that everyone, everywhere can live a more fulfilled life.

    atai Impact has been developed to harness the power of innovative mental health approaches for positive social change, committed to advancing education, expanding access and supporting the wider ecosystem.

    Its establishment is based on atai Life Sciences' position that, while a for-profit model is the swiftest and most robust means of unlocking new modalities for patients in need, this model alone…

    NEW YORK and BERLIN, Oct. 19, 2021 (GLOBE NEWSWIRE) -- atai Life Sciences (NASDAQ:ATAI) ("atai"), a clinical-stage biopharmaceutical company, today announced the launch of its new philanthropic program, atai Impact, in line with atai Life Sciences' vision, to heal mental health disorders so that everyone, everywhere can live a more fulfilled life.

    atai Impact has been developed to harness the power of innovative mental health approaches for positive social change, committed to advancing education, expanding access and supporting the wider ecosystem.

    Its establishment is based on atai Life Sciences' position that, while a for-profit model is the swiftest and most robust means of unlocking new modalities for patients in need, this model alone cannot address all aspects of the escalating global mental crisis.

    Therefore, atai Life Sciences believes having harmonization among commercial and non-profit entities is the ideal way forward. The initial focus of atai Impact will be on the psychedelic sector, given its emerging potential in tackling the growing mental health crisis.

    Supporting and collaborating with nonprofits and institutions that share its vision of healing mental health disorders, atai Impact will operate across three central pillars:

    1. Education: to help destigmatize mental health, promote better understanding of the potential of psychedelics in mental health care, and foster the next generation of neuro-innovators.
    2. Access: to support equal access to innovative and effective mental health support, for everyone, everywhere, regardless of geography or demographics.
    3. Ecosystem: to contribute to the sustainability of diverse stakeholder communities and environments, including indigenous resources.

    "The launch of atai Impact is a very proud moment for everyone at atai Life Sciences and for me, personally. While we believe a for-profit model is the best way to get new treatments to patients in need, not all aspects of the global mental health crisis can be effectively addressed by this model alone," said Florian Brand, Chief Executive Officer and Co-founder of atai Life Sciences.

    "I've been moved by the huge volume of support, internally and externally, that we have had in bringing atai Impact to life and by the commitment of so many of our staff, founders and investors who've already joined me in contributing a portion of their own company equity to this important program. We are in active discussions with multiple stakeholders towards meaningful initiatives that we believe can help make a real difference to the future of psychedelic medicine and mental health care worldwide."

    The atai Impact program will be initially funded by 1% of the gross proceeds from atai Life Sciences' June 2021 Initial Public Offering (NASDAQ) and founders' contributions. In addition, atai Life Sciences has created a Volunteer Paid Time Off Policy, equal to 1% of employees' time, and is working with the Equity for Impact initiative to encourage employees and investors to donate a portion of their equity to charitable endeavors.

    About atai Life Sciences

    atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. atai was founded in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to acquiring, incubating and efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders. atai's business model combines funding, technology, scientific and regulatory expertise with a focus on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential. By pooling resources and best practices, atai aims to responsibly accelerate the development of new medicines across its companies, seeking to effectively treat and ultimately heal mental health disorders. atai's mission is to bridge the gap between what the mental healthcare system currently provides and what patients need. atai has offices in New York, London, and Berlin. For more information, please visit www.atai.life.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release (including without limitation, the atai Impact program and any other future philanthropic endeavors by atai) that are not statements of historical fact may be deemed to be forward-looking statements. 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 discussed under the caption "Risk Factors" in atai's prospectus pursuant to Rule 424(b) filed with the U.S. Securities and Exchange Commission ("SEC") on June 21, 2021, 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.

    Contact Information

    For atai:

    Media Contact:

    Camilla Dormer

    VP, Communications, atai Life Sciences

    Email: camilla@atai.life

    Investor Contact:

    Chad Messer

    VP, Investor Relations, atai Life Sciences

    Email: chad@atai.life



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  2. NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) -- atai Life Sciences (NASDAQ:ATAI) ("atai"), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, announced the launch of PsyProtix, a new platform company formed with Chymia LLC, a Duke University biotechnology spinout. PsyProtix is a precision psychiatry company focused on developing therapeutics for treatment-resistant depression (TRD) and other mental health indications.

    PsyProtix takes a precision psychiatry approach, an emerging field that aims to treat disorders by factoring each patient's variability in genes, metabolism, environment, and lifestyle. Traditionally, psychiatric patients are diagnosed and treated based on guidelines and protocols…

    NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) -- atai Life Sciences (NASDAQ:ATAI) ("atai"), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, announced the launch of PsyProtix, a new platform company formed with Chymia LLC, a Duke University biotechnology spinout. PsyProtix is a precision psychiatry company focused on developing therapeutics for treatment-resistant depression (TRD) and other mental health indications.

    PsyProtix takes a precision psychiatry approach, an emerging field that aims to treat disorders by factoring each patient's variability in genes, metabolism, environment, and lifestyle. Traditionally, psychiatric patients are diagnosed and treated based on guidelines and protocols designed for the majority, which can often lead to trial and error as physicians attempt to best meet each individual patient's needs.

    Precision psychiatry is designed to allow physicians to prescribe treatments specifically targeted to the individual, rather than relying on the trial and error approach and/or adding on treatments, such as antidepressants or antipsychotics, in the quest to achieve a therapeutic benefit.

    Over 300 million people suffer with a major depressive disorder (MDD) worldwide, with a third of these patients diagnosed with TRD. Direct medical costs for TRD patients are estimated to be two to three times higher than non-TRD MDD patients. These statistics highlight the importance and potential of a mechanistically targeted therapeutic approach. PsyProtix will focus on metabolomic mechanisms underlying depression symptoms for certain patients with the goal of deriving more tailored treatments.

    "Our view is that each patient is unique, meaning that any given patient will likely have specific individual needs," said Srinivas Rao, Chief Scientific Officer and co-founder of atai Life Sciences. "This emerging technology adapts to the variability of conditions, such as depression, with the aim of allowing patients with psychiatric disorders to potentially be diagnosed and treated more accurately and efficiently according to their specific needs. It's an honor to be collaborating with Professor Rima Kaddurah-Daouk and her team at Duke, given their great work in advancing the research of metabolomics and their study of neuropsychiatric disorders."

    Dr. Kaddurah-Daouk, is a Professor of Psychiatry and Behavioral Sciences in Duke's School of Medicine. She leads large NIH funded consortia to implement a precision medicine approach for the study of neuropsychiatric diseases where the metabolome is used to capture net influences of diet exposome gut microbiome and genome on brain health and disease.

    The work licensed by Duke to start PsyProtix captures efforts of a large number of scientists working collaboratively under the Mood Disorder Precision Medicine Consortium which is led by a Duke principal investigator (PI). Their approach has the promise to potentially optimize the selection of drugs most effective for each patient, easing the healing journey in important and impactful ways.

    About atai Life Sciences

    atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. atai was founded in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to acquiring, incubating and efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders. atai's business model combines funding, technology, scientific and regulatory expertise with a focus on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential. By pooling resources and best practices, atai aims to responsibly accelerate the development of new medicines across its companies, seeking to effectively treat and ultimately heal mental health disorders. atai's mission is to bridge the gap between what the mental healthcare system currently provides and what patients need. atai has offices in New York, London, and Berlin. For more information, please visit www.atai.life.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. 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 discussed under the caption "Risk Factors" in atai's prospectus pursuant to Rule 424(b) filed with the U.S. Securities and Exchange Commission ("SEC") on June 21, 2021, 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.



    Investor Contact:

    Greg Weaver

    atai – Chief Financial Officer

    Email: greg.weaver@atai.life



    Media Contact:

    Camilla Dormer

    atai – VP of Communications

    Email: press@atai.life



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  3. NEW YORK, Sept. 21, 2021 (GLOBE NEWSWIRE) -- DemeRx IB, Inc. ("DemeRx"), an atai Life Sciences (NASDAQ:ATAI) ("atai") platform company focused on developing ibogaine for the treatment of opioid use disorder (OUD), today announced that the first subjects have been dosed in a Phase 1/2a clinical trial of ibogaine HCl (DMX-1002). The trial has commenced enrollment and dosing of recreational drug users and healthy volunteers in the Phase 1 segment of the study at the Manchester clinical unit of MAC Clinical Research (MAC) in the UK, one of Europe's largest clinical development organizations.

    DMX-1002 is an oral formulation of ibogaine, a naturally occurring psychedelic product isolated from a West African shrub. In previously published non-controlled…

    NEW YORK, Sept. 21, 2021 (GLOBE NEWSWIRE) -- DemeRx IB, Inc. ("DemeRx"), an atai Life Sciences (NASDAQ:ATAI) ("atai") platform company focused on developing ibogaine for the treatment of opioid use disorder (OUD), today announced that the first subjects have been dosed in a Phase 1/2a clinical trial of ibogaine HCl (DMX-1002). The trial has commenced enrollment and dosing of recreational drug users and healthy volunteers in the Phase 1 segment of the study at the Manchester clinical unit of MAC Clinical Research (MAC) in the UK, one of Europe's largest clinical development organizations.

    DMX-1002 is an oral formulation of ibogaine, a naturally occurring psychedelic product isolated from a West African shrub. In previously published non-controlled studies, ibogaine has demonstrated rapid and sustained efficacy in treating OUD and has the potential to be a disease modifying treatment for this vulnerable patient population seeking to end their intractable cycle of drug dependence.

    The Phase 1/2a trial is designed to assess safety, tolerability, pharmacokinetics, and efficacy, and the results will inform future studies in patients with opioid use disorder. We expect to obtain safety data from the phase 1 segment of this trial in early 2022.

    "By launching the Phase1/2a trial, we look forward to bringing important data from carefully designed, controlled studies to the existing literature on ibogaine, a compound with substantial history," said Dr. Deborah Mash, CEO and President of DemeRx. "We are hopeful that this early trial can begin to establish a safe and efficacious profile for Ibogaine, so that we can potentially offer a new option for patients seeking to break free from OUD who have far too few options."

    "The opioid crisis has ravaged the U.S. for over 20 years with little sign of letting up. The COVID-19 pandemic revealed the tragic vulnerability of people addicted to drugs as the CDC tallied 93,000 drug overdose deaths in 2020, a 30% increase, 70,000 of which involved opioids," added Srinivas Rao, Chief Scientific Officer and Co-founder of atai Life Sciences. "Launching our Phase 1/2a trial of ibogaine with assent of regulators, we believe is a major step towards reversing the trend of the opioid crisis."

    "We strive for bold innovation to address the global crisis of mental health," said Florian Brand, Chief Executive Officer and Co-founder of atai Life Sciences. "By launching this Phase 1/2a trial, we are grateful for the work of our dedicated teams at DemeRx and atai who are committed to this ethos, striving to bring transformative treatments through rigorous testing."

    About DemeRx, Inc. & DMX-1002

    DemeRx, Inc. is a Miami-based clinical stage pharmaceutical company focused on developing ibogaine and noribogaine for the treatment of OUD. DemeRx's mission is to advance the development of potential treatments for OUD in order to prevent patient suffering, provide better treatment retention, and decrease illegal opioid use.

    DemeRx is developing DMX-1002 for the treatment of OUD. DMX-1002 is a GMP drug product manufactured for human use.

    About atai Life Sciences

    atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. atai was founded in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to acquiring, incubating and efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders. atai's business model combines funding, technology, scientific and regulatory expertise with a focus on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential. By pooling resources and best practices, atai aims to responsibly accelerate the development of new medicines across its companies, seeking to effectively treat and ultimately heal mental health disorders. atai's mission is to bridge the gap between what the mental healthcare system currently provides and what patients need. atai has offices in New York, London, and Berlin. For more information, please visit www.atai.life.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including without limitation statements regarding the initiation of the Phase 1/2a clinical trial of ibogaine HCl and future activities thereunder, the potential of DMX-1002, and similar statements of a future or forward-looking nature. 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 discussed under the caption "Risk Factors" in atai's prospectus pursuant to Rule 424(b) filed with the U.S. Securities and Exchange Commission ("SEC") on June 21, 2021, as such factors may be updated from time to time in atai's other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. atai disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

    Contact Information

    For atai:

    Investor Contact:

    Greg Weaver

    atai – Chief Financial Officer

    Email: greg.weaver@atai.life 

    Media Contact:

    Anne Donohoe

    KCSA Strategic Communications

    Phone: +1 (212) 896-1265

    Email: atai@KCSA.com 

    For DemeRx:

    Company Contacts:

    Deborah C Mash PhD

    CEO & Founder, DemeRx Inc.

    Phone: +1(305)753-2175

    Email: dmash@demerx.com 

    Matthias Luz MD

    Executive Vice President & Chief Medical Officer

    Email: mluz@demerx.com 



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  4. NEW YORK, Sept. 15, 2021 /PRNewswire/ -- The damage done by the opioid epidemic has caused families grief and loss, but recent developments in the case against Purdue Pharma will see some restitution for the family. A potential $10 billion will be going toward fighting the opioid crisis that killed upward of 500,000 Americans in the past two decades. The Sackler family that owns Purdue Pharma will forfeit ownership of Purdue Pharma and pay $4.5 billion for the damage done by opioids like its best-selling Oxycontin. Fortunately, a new flock of companies is upending the traditional view of medicine by providing psychedelic treatments into their research and opening clinics to treat patients. Companies like Revitalist Lifestyle and Wellness Ltd.

    NEW YORK, Sept. 15, 2021 /PRNewswire/ -- The damage done by the opioid epidemic has caused families grief and loss, but recent developments in the case against Purdue Pharma will see some restitution for the family. A potential $10 billion will be going toward fighting the opioid crisis that killed upward of 500,000 Americans in the past two decades. The Sackler family that owns Purdue Pharma will forfeit ownership of Purdue Pharma and pay $4.5 billion for the damage done by opioids like its best-selling Oxycontin. Fortunately, a new flock of companies is upending the traditional view of medicine by providing psychedelic treatments into their research and opening clinics to treat patients. Companies like Revitalist Lifestyle and Wellness Ltd. (CSE:CALM), Atai Life Sciences N.V. (NASDAQ:ATAI), Cybin (NYSE:CYBN), Seelos Therapeutics, Inc. (NASDAQ:SEEL) and Tonix Pharmaceuticals (NASDAQ:TNXP) are researching, developing, and bringing to market new treatments in order to avoid the mistakes of the past.

    Revitalist Lifestyle and Wellness Ltd. (CSE:CALM) has just announced it has opened its fifth clinic in Raleigh, North Carolina. The city of Raleigh was chosen for its leading scholarly institutions and healthcare industry. With 14 treatment rooms, the clinic will have the ability to treat over 14,500 patients annually. The clinic will participate in advocacy programs working with Veterans Affairs and assisting veterans struggling with Post Traumatic Stress Disorder, Pain Syndromes, Major Depressive Disorder, and Suicidal Ideations gain greater access to care and is expected to generate approximately $7.1 million in revenue at full capacity.

    Revitalist will aim to bring its unique blend of comprehensive care and future-centric treatments provided by medical professionals, mental health experts, and chronic pain specialists. As the state ranks 21st in the country for the prevalence of mental illness, Revitalist's clinic is well-placed to serve the people of Raleigh and the surrounding communities in a more holistic and natural way.

    Revitalist now has a total of five clinics since opening the first in 2018. The company operates across the United States and will continue the expansion across the US is advancing its mission of bringing new, comprehensive care solutions to patients in both mental health care and pain management.   If you'd like to learn more about Revitalist Lifestyle and Wellness Ltd. (CSE:CALM), click here.

    Companies Taking a New Approach to Treatment and Avoiding the MIstakes of the Past

    Seelos Therapeutics, Inc. (NASDAQ:SEEL) is a clinical-stage biopharmaceutical company developing therapies for many central nervous system disorders and rare diseases. It is also advancing its mission and announced on January 27 that it had been selected as one of the 17 companies to be included in the world's first psychedelic Exchange Traded Fund (ETF). The fund has begun trading on the NEO exchange under the symbol PSYK. This opens the avenues for investors to gain exposure to the growing psychedelic market.

    Cybin (NYSE:CYBN) is the first for the sector to list on the NYSE, and is a validation for both the company and the industry. Cybin is currently developing a pipeline of psychedelic molecules for treating mental health conditions, including a proprietary formulation of psilocybin. This formulation is currently in phase 2 clinical trials.

    Atai Life Sciences (NASDAQ:ATAI) has a revolutionary digital therapeutic platform called Itrospect Digital Therapeutics. The company has announced it will begin a usability study of the app for support of standard of care ketamine therapy for patients with treatment-resistant depression. With digital health services growing in popularity and need, Atai is hoping to bring its app to more users to help treat mental illness in a more productive way without the need for addictive medications.

    Clinical-stage biopharmaceutical company Tonix Pharmaceuticals (NASDAQ:TNXP) has a large pipeline of innovative and proprietary therapeutics to address the needs of patients. The company also takes an approach that focuses on less addictive treatment. The company's portfolio includes small molecules and biologics to treat pain, neurologic, and psychiatric disorders, along with addiction disorders. The company will be a presenter at the H.C. Wainwright Global Investment Conference from September 13-15, and aims to bring investors awareness to the company through the conference.

    Companies are taking a good, long look at the damage done by companies like Purdue Pharma, and developing new treatments using psychedelics to provide better care for patients. Revitalist Lifestyle and Wellness Ltd. continues to move toward that goal by opening more clinics and bringing its services to more people across the country.

    DISCLAIMER: Microsmallcap.com (MSC) is the source of the Article and content set forth above.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

     

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  5. NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) -- atai Life Sciences (NASDAQ:ATAI) ("atai"), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, today announced it has entered into an amended and restated loan agreement ("Loan Agreement") with strategic partner IntelGenx Technologies Corp. ("IntelGenx") to support IntelGenx's conditionally approved graduation from the TSX Venture Exchange to the Toronto Stock Exchange ("TSX"). Completion of the uplisting and the commencement of trading of IntelGenx's common shares, 8% convertible debentures with a maturity date of June 30, 2022, and share purchase warrants expiring on February 11, 2023 is subject to the satisfaction by IntelGenx of all of the…

    NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) -- atai Life Sciences (NASDAQ:ATAI) ("atai"), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, today announced it has entered into an amended and restated loan agreement ("Loan Agreement") with strategic partner IntelGenx Technologies Corp. ("IntelGenx") to support IntelGenx's conditionally approved graduation from the TSX Venture Exchange to the Toronto Stock Exchange ("TSX"). Completion of the uplisting and the commencement of trading of IntelGenx's common shares, 8% convertible debentures with a maturity date of June 30, 2022, and share purchase warrants expiring on February 11, 2023 is subject to the satisfaction by IntelGenx of all of the final conditions of listing.

    atai has agreed to increase the principal amount of its outstanding US$2,500,000 loan to IntelGenx by an additional US$6,000,000, with US$3,000,000 to become available to IntelGenx in each of January 2022 and January 2023, subject to customary conditions. The loan is in addition to atai's previously announced initial equity investment of an approximately 25% interest in IntelGenx. The loan bears interest at a rate of 8% per annum, payable at maturity, and matures in January 2024. The borrower under the secured loan is IntelGenx's wholly-owned subsidiary, IntelGenx Corp., and the loan is guaranteed by IntelGenx.

    As part of the strategic partnership, IntelGenx partnered exclusively with atai to develop formulations of compounds for the prevention or treatment of mental health diseases or disorders, including compounds that have psychedelic, entactogenic and/or oneirophrenic properties (such as DMT and psilocybin, among others). atai agreed to increase the loan principal in part on the basis of early data generated from its ongoing feasibility studies conducted with IntelGenx.

    "We are proud to deepen our relationship with atai, while strengthening our positions of leadership and boldly innovating novel psychedelic therapies," said Dr. Horst G. Zerbe, CEO of IntelGenx. "I'm excited about our companies' mutual efforts to advance our robust pipelines, while finding synergistic ways to work together to develop better compounds and modes of delivery to benefit patients."

    "This transaction illustrates our confidence in IntelGenx's film technology and the potential it has in the development of product candidates to treat mental health disorders," said Florian Brand, CEO of atai. "We look forward to collaborating to transition this innovative film delivery technology into the clinic."

    About atai

    atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. atai was founded in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to acquiring, incubating and efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders. atai's business model combines funding, technology, scientific and regulatory expertise with a focus on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential. By pooling resources and best practices, atai aims to responsibly accelerate the development of new medicines across its companies, seeking to effectively treat and ultimately heal mental health disorders. atai's mission is to bridge the gap between what the mental healthcare system currently provides and what patients need. atai has offices in New York, London, and Berlin. For more information, please visit www.atai.life.

    About IntelGenx

    IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

    IntelGenx's superior film technologies, including VersaFilm®, DisinteQ™, VetaFilm™ and transdermal VevaDerm™, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx's innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.

    IntelGenx's highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx's state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit www.intelgenx.com.

    Forward-Looking Information

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. 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,

    the uplisting of IntelGenx to the TSX and continued strategic cooperation between atai and IntelGenx. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond our control and which could cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements.

    We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including without limitation: we are a clinical-stage biopharmaceutical company and have incurred significant losses since our inception, and we anticipate that we will continue to incur significant losses for the foreseeable future; we will require substantial additional funding to achieve our business goals, and if we are unable to obtain this funding when needed and on acceptable terms, we could be forced to delay, limit or terminate our product development efforts; our limited operating history may make it difficult to evaluate the success of our business and to assess our future viability; we have never generated revenue and may never be profitable; our product candidates contain controlled substances, the use of which may generate public controversy; clinical and preclinical development is uncertain, and our preclinical programs may experience delays or may never advance to clinical trials; we currently rely on qualified therapists working at third-party clinical trial sites to administer certain of our product candidates in our clinical trials and we expect this to continue upon approval, if any, of our current or future product candidates; if third-party sites fail to recruit and retain a sufficient number of therapists or effectively manage their therapists, our business, financial condition and results of operations would be materially harmed; we cannot give any assurance that any of our product candidates will receive regulatory approval, which is necessary before they can be commercialized; research and development of drugs targeting the central nervous system, or CNS, is particularly difficult, and it can be difficult to predict and understand why a drug has a positive effect on some patients but not others; we face significant competition in an environment of rapid technological and scientific change; third parties may claim that we are infringing, misappropriating or otherwise violating their intellectual property rights, the outcome of which would be uncertain and may prevent or delay our development and commercialization efforts; a change in our effective place of management may increase our aggregate tax burden; we identified material weaknesses in connection with our internal control over financial reporting; and a pandemic, epidemic, or outbreak of an infectious disease, such as the COVID-19 pandemic, may materially and adversely affect our business, including our preclinical studies, clinical trials, third parties on whom we rely, our supply chain, our ability to raise capital, our ability to conduct regular business and our financial results. Other risk factors include the important factors described in the section titled "Risk Factors" in our final prospectus, filed with the Securities and Exchange Commission ("SEC") on June 21, 2021 pursuant to Rule 424(b) under the Securities Act, and in our other filings with the SEC, that may cause our actual results, performance or achievements to differ materially and adversely from those expressed or implied by the forward-looking statements.

    Any forward-looking statements made herein speak only as of the date of this press release, and you should not rely on forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, performance, or achievements reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations.

    Contact Information

    For atai Life Sciences:

    Investor Contact:

    Greg Weaver

    ATAI – Chief Financial Officer

    Email: greg.weaver@atai.life

    Media Contact:

    Anne Donohoe

    KCSA Strategic Communications

    Phone: +1 (212) 896-1265

    Email: atai@KCSA.com

    For IntelGenx:

    Stephen Kilmer

    Investor Relations

    (514) 331-7440 ext 232

    stephen@intelgenx.com

    Or

    Andre Godin, CPA, CA

    President and CFO

    IntelGenx Technologies Corp.

    (514) 331-7440 ext 203

    andre@intelgenx.com

     



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