ATAI has now started to create their own IP with a newly founded subsidiary Viridia Life Sciences. Viridia is working on developing DMT – a short acting depression treatment. Clinical trials will start in early 2021. This will be a further valuation boost for ATAI as it prepares for an IPO.
Isolating DMT could result in a drug that triggers psychedelic experiences that are much shorter than similar products (e. g. psilocybin) and could open up psychedelic-assisted treatment to people who can’t or don’t want to undergo a longer psychedelic experience.
Viridia’s DMT product will be paired with a digital therapeutic being developed by ATAI-company Introspect, which could help doctors monitor patients remotely and tailor treatment to each patient.
Up to now, ATAI has mainly acquired companies and their IP, but with a growing team ATAI started to also create IP and start companies itself. This is an important milestone in the company’s life as it nears an IPO.
Originally published on Fierce Biotech: Read article here