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A health-care investment firm that’s backing studies of magic mushrooms to treat depression raised $25 million of capital and may consider an initial public offering next year, according to people familiar with the matter.

Atai Life Sciences AG is close to announcing the fundraising with lead backers Christian Angermayer, a German investor, as well as billionaire investor Mike Novogratz and Icelandic entrepreneur Thor Bjorgolfsson, said the people, who asked not to be named because the matter isn’t public yet.

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Source: Bloomberg - by Eyk Henning