Regeneron Expands Obesity Portfolio, Atai Merges with Beckley Psytech in Psychedelics Push

Regeneron Pharmaceuticals is making significant strides in the obesity treatment landscape, while Atai Life Sciences strengthens its position in the psychedelics sector through a merger. Meanwhile, gene therapy developers Bluebird bio and UniQure report important corporate and regulatory developments.

Regeneron's Dual Approach to Obesity Treatment

Regeneron has unveiled a two-pronged strategy to bolster its presence in the competitive obesity market. The company disclosed Phase 2 study results suggesting that the addition of one or two of its experimental medicines to Novo Nordisk's Wegovy might help preserve muscle mass in people with obesity. However, Leerink Partners analyst David Risinger described the results as "mixed," noting that the addition of Regeneron's drug resulted in either numerically lower weight loss with "comparable tolerability" or "greater weight loss with worse tolerability."

In a separate move, Regeneron announced a deal to acquire most worldwide rights to a weight-loss drug developed by Hansoh Pharmaceuticals Group. The drug, currently in late-stage testing for obesity in China, targets the gut hormones GLP-1 and GIP, similar to Eli Lilly's Zepbound. Regeneron paid Hansoh $80 million upfront, with potential additional payouts of nearly $2 billion.

Atai Life Sciences Merges with Beckley Psytech

Atai Life Sciences is set to absorb the remainder of UK-based Beckley Psytech through an all-share transaction valued at $390 million. The merger, expected to close in the second half of 2025, will give Atai full access to Beckley's experimental version of the mind-altering compound mebufotenin. Beckley's investors will receive approximately 105 million new shares, representing about 31% of the combined company.

Concurrent with the merger, investment firms Ferring Ventures and Adage Capital Partners are making a $30 million private placement. Atai stated that the newly formed entity will have sufficient cash to fund operations through multiple important mid-stage clinical trial readouts.

Gene Therapy Developments: Bluebird bio and UniQure

Carlyle Group and SK Capital have closed a deal to acquire and take private gene therapy developer Bluebird bio. The private equity firms have provided "significant primary capital" to support and scale Bluebird's gene therapies for rare blood and brain diseases. The company will now prioritize building up its manufacturing capabilities and strengthening relationships with insurers.

UniQure, another gene therapy developer, has reached an agreement with the FDA on several key components of an approval application for its Huntington's disease treatment, AMT-130. The company plans to have another pre-filing meeting with the FDA late this year and formally submit its application for priority review in the first quarter of 2026. Analysts at TD Cowen estimate that peak annual sales of AMT-130 could reach or surpass $1 billion.