News Release Details

NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) -- atai Life Sciences (Nasdaq: ATAI) (“atai”), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, announced the launch of PsyProtix, a new platform company formed with Chymia LLC, a Duke University biotechnology spinout. PsyProtix is a precision psychiatry company focused on developing therapeutics for treatment-resistant depression (TRD) and other mental health indications.

PsyProtix takes a precision psychiatry approach, an emerging field that aims to treat disorders by factoring each patient’s variability in genes, metabolism, environment, and lifestyle. Traditionally, psychiatric patients are diagnosed and treated based on guidelines and protocols designed for the majority, which can often lead to trial and error as physicians attempt to best meet each individual patient’s needs.

Precision psychiatry is designed to allow physicians to prescribe treatments specifically targeted to the individual, rather than relying on the trial and error approach and/or adding on treatments, such as antidepressants or antipsychotics, in the quest to achieve a therapeutic benefit.

Over 300 million people suffer with a major depressive disorder (MDD) worldwide, with a third of these patients diagnosed with TRD. Direct medical costs for TRD patients are estimated to be two to three times higher than non-TRD MDD patients. These statistics highlight the importance and potential of a mechanistically targeted therapeutic approach. PsyProtix will focus on metabolomic mechanisms underlying depression symptoms for certain patients with the goal of deriving more tailored treatments.

“Our view is that each patient is unique, meaning that any given patient will likely have specific individual needs,” said Srinivas Rao, Chief Scientific Officer and co-founder of atai Life Sciences. “This emerging technology adapts to the variability of conditions, such as depression, with the aim of allowing patients with psychiatric disorders to potentially be diagnosed and treated more accurately and efficiently according to their specific needs. It’s an honor to be collaborating with Professor Rima Kaddurah-Daouk and her team at Duke, given their great work in advancing the research of metabolomics and their study of neuropsychiatric disorders.”

Dr. Kaddurah-Daouk, is a Professor of Psychiatry and Behavioral Sciences in Duke’s School of Medicine. She leads large NIH funded consortia to implement a precision medicine approach for the study of neuropsychiatric diseases where the metabolome is used to capture net influences of diet exposome gut microbiome and genome on brain health and disease.

The work licensed by Duke to start PsyProtix captures efforts of a large number of scientists working collaboratively under the Mood Disorder Precision Medicine Consortium which is led by a Duke principal investigator (PI). Their approach has the promise to potentially optimize the selection of drugs most effective for each patient, easing the healing journey in important and impactful ways.

About atai Life Sciences
atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. atai was founded in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to acquiring, incubating and efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders. atai's business model combines funding, technology, scientific and regulatory expertise with a focus on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential. By pooling resources and best practices, atai aims to responsibly accelerate the development of new medicines across its companies, seeking to effectively treat and ultimately heal mental health disorders. atai's mission is to bridge the gap between what the mental healthcare system currently provides and what patients need. atai has offices in New York, London, and Berlin. For more information, please visit www.atai.life.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, the important factors discussed under the caption “Risk Factors” in atai's prospectus pursuant to Rule 424(b) filed with the U.S. Securities and Exchange Commission (“SEC”) on June 21, 2021, as such factors may be updated from time to time in atai's other filings with the SEC. atai disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by applicable law.

Investor Contact:
Greg Weaver
atai – Chief Financial Officer
Email: greg.weaver@atai.life

Media Contact:
Camilla Dormer
atai – VP of Communications
Email: press@atai.life