COMPASS Pathways is a subsidiary of ATAI that aims to develop psilocybin for treatment-resistant depression. It (will soon) go public as the largest psychedelics IPO to date.
“COMPASS is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. Our first programme is researching how psilocybin therapy could help people with treatment-resistant depression.”
COMPASS has received a FDA breakthrough therapy designation which means that the development of psilocybin-assisted therapy is advancing at an accelerated pace. Currently they are doing a Phase IIb study with 216 patients in Europe and North America.
The company has also invested in Delix Therapeutics, “a drug discovery and development company researching novel small molecules for use in CNS indications.”
The company plans to offer their COMP360 therapy in 2025 (or later).
- Ekaterina Malilevskaia – CIO & Co-founder
- George Goldsmith – CEO & Co-founder
- Lars Christian Wilde – President, CBO & Co-founder
- Robin Carhart-Harris – Scientific Advisory Board
- David Nutt – Scientific Advisory Board
The company has raised $80 million for its phase III trials. Previously it has raised $31 million for the phase II trials. ATAI is the largest investor in COMPASS.
As of September 2020, it’s listed on the Nasdaq under the ticker CMPS and has raised over $100 million at a $600 million valuation (which jumped to $1.1 billion within days). This is in addition to the previous $116 million (estimated) that it has raised before September.
- COMPASS Pathways granted two US patents (press release, March 2021)
- Can a Company Patent the Basic Components of Psychedelic Therapy? (Vice, February 2021)
- COMPASS Pathways establishes Centre of Excellence with Sheppard Pratt to accelerate research and improve patient experience in mental health care (press release, January 2021)
- Lars Wilde, Co-founder of COMPASS Pathways (Psilocybin Alpha, December 2020)
- George Goldsmith Talks About His Drug for Treating Depression (Bloomberg, December 2020)
- A Bet on Magic Mushrooms Made One Investor $316 Million Richer (Bloomberg, September 2020)
- Compass Pathways’ IPO Highlights UK’s Lead in Psychedelics (September 2020)
- Why Compass Pathways Is Soaring Today (Motley Fool, September 2020)
- ‘Magic Mushroom’ Company Goes Mainstream, Jumps 71% Post-IPO (Bloomberg, September 2020)
- Can magic mushrooms treat depression? Biotech COMPASS Pathways prices upsized US IPO above the range at $17 (Nasdaq, September 2020)
- Compass Pathways Seeks $100 Million IPO For Psilocybin-Based Treatment (Seeking Alpha, September 2020)
- The First Pure-Play Psychedelic Drugs IPO Reveals Clues On Emerging Industry (Investor’s Business Daily, September 2020)
- Compass plans $100m IPO to fund magic mushroom depression drug (Pharma Phorum, September 2020)
- Magic mushroom drug-backer Compass Pathways files for U.S. IPO (press release, August 2020)
- Compass raises $80M to take magic mushroom drug toward phase 3 (Fierce Biotech, April 2020)
- Mental Health Care Company COMPASS Pathways Concludes Successful Series B Investment Round (Press Release, April 2020)
- COMPASS Pathways granted patent covering use of its psilocybin formulation in addressing treatment-resistant depression (January 2020)
- COMPASS Pathways receives FDA Breakthrough Therapy designation for psilocybin therapy for treatment-resistant depression (October 2018)
- COMPASS Pathways News | December 2017 Issue (December 2017)