Benzinga | Oct 11, 2021 10:42AM EDT

Atai Life Launches Depression-Focused Firm

* Atai Life Sciences NV (NASDAQ:ATAI) has launched 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.

* 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 medicines, such as antidepressants or antipsychotics, to achieve a therapeutic benefit.

* Related: Peter Thiel Backed Atai Life Launches New Mental Health Disorders-Focused Company.

* Price Action: ATAI shares are down 0.48% at $12.49 during the market session on the last check Monday.