Peter Thiel-backed psychedelic biotech firm worth $2 bn with $157 mn funding

Atai Life Sciences, a psychedelic biotech company backed by billionaire investor Peter Thiel, on Wednesday announced it had raised a $157 million funding round. Reuters and Bloomberg reported that the funding came at a $2 billion valuation. The company works on the development of psychedelics and other drugs to treat mental illnesses including depression and anxiety.