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Thiel-Backed Psychedelics Firm Hits $2 Billion Valuation

  • Atai Life Sciences raises $157 million in Series D round
  • German firm plans to hire Credit Suisse, Citi to prepare IPO

Photographer: Roger Cremers/Bloomberg

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Atai Life Sciences AG, a German startup looking into ways of using psychedelic substances to treat mental-health disorders, has been valued at about $2 billion in a funding round ahead of its potential listing, people familiar with the matter said.

Berlin-based Atai plans to hire Credit Suisse Group AG and Citigroup Inc. for a potential U.S. initial public offering that could take place as early as the second quarter, the people said, asking not to be identified because the information is private.