ATAI Life Sciences, a German biotech startup focused on depression and other mental health disorders, raised $43 million in Series B funding. Subversive Capital led, and was joined by return backers like Apeiron Investment Group and Bail Capital.
Why it matters: This is the largest-ever venture round for a developer of psychedelic medicines, and comes after the FDA approved Johnson & Johnson's use of a different psychedelic agent for treating depression.