AtaiBeckley Is Said to Explore Options for Main Psychedelic Drug

AtaiBeckley Inc. is working with advisers to explore options for its flagship psychedelic drug candidate, according to people familiar with the matter.

The firm is looking at a potential sale or partnership for BPL-003, a nasal spray for treatment of severe depression that’s entering phase 3 clinical trials, the people said. AtaiBeckley is aiming to fetch $2 billion or more from a deal and has picked Jefferies Financial Group Inc. and JPMorgan Chase & Co. to lead talks with other pharmaceutical companies, said the people, who asked not to be identified as the information is private.

Under a co-commercialization agreement, ...