This Billionaire Made $360 Million Selling His Psychedelic Company To Eli Lilly - Forbes

What the report says

Forbes reported that Eli Lilly is acquiring AtaiBeckley, a psychedelics-focused biotech tied to German investor Christian Angermayer, in a deal valued at $2.8 billion, with up to $1 billion more possible through milestone payments. The article, published July 24, 2026, says Angermayer’s 15% holding would bring him about $360 million before taxes.

The deal centers on BPL-003, an experimental nasal spray containing mebufotenin benzoate, a form of 5-MeO-DMT, being developed for treatment-resistant depression. Forbes said the medicine is intended for use in a clinical setting, with patients monitored for about two hours after administration. Phase III trials are expected to begin in 2029. AtaiBeckley also has other psychedelic-related programs, including a DMT-based dissolvable strip and compounds related to MDMA.

Forbes framed the acquisition as the largest transaction to date in the psychedelics sector and a sign of growing interest from major drugmakers. The report noted Eli Lilly’s history in depression treatment through Prozac and its recent commercial success with drugs such as Zepbound and Mounjaro. It also compared the commercial model to Johnson & Johnson’s ketamine-derived Spravato, approved by the FDA in 2019.

The article traces Angermayer’s involvement to personal psychedelic experiences beginning in 2014 and his later backing of companies including Compass Pathways and Atai. Forbes also cited differing views inside the field: Morningstar analyst Karen Andersen described strong commercial potential, while longtime psychedelic researcher Rick Doblin welcomed investor validation but expressed concern about approaches that may reduce the role of therapy.