ATAI - atai Life Sciences founder: IPO funds will help clinical trials of psychedelic medical products

Christian Angermayer, founder of atai Life Sciences (ATAI), said the firm's IPO will allow the firm to push its products through clinical trials, as it looks to create therapies based on psychedelic drugs like magic mushrooms and ayahuasca. This comes as the Peter Thiel-backed psychedelic psychology company hits the public market on Friday.In an interview with CNBC, Angermayer noted that atai has 10 products in various stages of development, with the most advanced currently in phase 2 trials. He said the company was "some years away" from its first potential approval.The atai founder stressed that the company's goal was to bring psychedelics into the medical arena, not to create a recreational consumer market.Angermayer, founder of the Apeiron Investment Group, pushed psychedelics as a potentially crucial treatment for psychological problems fostered by the modern world."The world we are building is a bad place for our brains," he said.Angermayer outlined the company's

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atai Life Sciences founder: IPO funds will help clinical trials of psychedelic medical products