Six molecules·51 trial records·5 deals·17 calls on the record
Drug companies are spending billions on psychedelic medicine, mostly in America.
We read the contracts and filings behind every deal to show what's been bought, what's been skipped, and what that leaves open in Europe.
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Six molecules will decide what Europe gets. We follow all of them, every week.
For the 21 million people in the EU living with depression.
The money
$8.2bn
Headline value of the five deals we track. Lilly, AbbVie, Otsuka. None of it European.
Where Europe stands
Twelve assets. Six molecules. Four with no European partner.
Every row from a filing or a registry. Stage is the highest with a European record; US progress is a note, never a position.
| Molecule | Asset | Holder | Stage in Europe | European partner | Bought | Source |
|---|---|---|---|---|---|---|
| Psilocybin | COMP360 | Compass Pathways | Phase 3 | None disclosed | · | 10-K · 25 Aug |
| Lysergide | DT120 | Definium Therapeutics | Phase 3 | None disclosed | · | 10-K · 15 Sep |
| Mebufotenin | BPL-003 | Lilly, via AtaiBeckley | Phase 2 | Lilly | $3.8bn · Sep 2026 | 8-K · 15 Sep |
| GH001 | GH Research | Phase 2 | None disclosed | · | 20-F · 25 Aug | |
| HLP003 | HLP003 | Helus Pharma | Phase 3 | None disclosed | · | AIF · 24 Aug |
| MDMA | Amsterdam UMC | Investigator-led | Phase 2 | n/a | · | CTIS · 8 Sep |
| Brenipatide | LY3537031 | Lilly | Phase 3 | Lilly | · | 10-Q · 15 Sep |
Issue 18·13 October 2026
BPL-003 is the cheapest promise in Lilly's contract.
Lilly replaced all four directors of Beckley Psytech the day the deal closed. The contract pays CVR holders at most $0.50 on BPL-003 and asks Lilly to try in one indication only.
Read the issueThe call in this issue
By 30 June 2027 no new BPL-003 trial is registered on ClinicalTrials.gov or CTIS.
Open · resolves 30 Jun 2027 · scored in the first July issue
Falsifier: any BPL-003 trial record first posted after 11 September 2026 on either registry, any sponsor, any phase