AtaiBeckley Inc. (NASDAQ: ATAI) announced the launch of its Patient Impact Grant Program, which will provide three $20,000 grants to nonprofit organizations working to improve mental health outcomes.

The biotechnology company said the grants will target three areas: community support for equitable access to mental health treatments, education and stigma reduction initiatives, and ecosystem innovation and independent research. Organizations can apply for funding to support work with underserved populations, promote mental health awareness, or develop patient-informed approaches.

A review panel will select recipients, including Kevin Craig, the company's chief medical officer, Caroline Lilley, head of patient impact, and Dr. Jessica Jackson from Mental Health America. Jackson is participating as an external reviewer.

Applications opened and will close on September 1. The program aims to support organizations addressing barriers to mental health care access and building community trust in treatments.

"Real progress in mental health doesn't happen in isolation - it happens when we innovate responsibly, listen to patients, and invest in the people driving change on the ground," Craig said in a statement.

AtaiBeckley develops mental health treatments and has a pipeline that includes therapies for treatment-resistant depression and social anxiety disorder. The company's lead candidate BPL-003 is in Phase 3 planning, while two other treatments are in Phase 2 clinical development.

The grant program represents the company's effort to support mental health initiatives beyond its drug development activities, according to the press release.