Psychedelic Industry Setting Up For an Even Bigger 2021
Dealmaking is going strong and looks set to continue as mental health becomes a key investment theme going forward.
Money is continuing to flow towards the psychedelic sector as the group has become the hot spot for investors. Despite the issue that any payoff in this industry could be years away, companies are easily raising capital and deals are quickly oversubscribed. The capital raises of 2020 could continue into 2021. Here's an example of some of the deals that have happened in just the past few months.
-- In November, ATAI Life Sciences announced the successful closing of its $125 million Series C financing round, including $32 million of its 2020 convertible debt that converted in connection with the Series C.