5 years ago

Compass Pathways Raises $80 Million for Psilocybin Therapy Research

  • Compass Pathways, a UK-based mental health care company, has secured $80 million in Series B funding

  • The round was led by existing investor ATAI Life Sciences and new investor McQuade Center for Strategic Research and Development, along with other investors such as Founders Fund, Able Partners, Camden Partners Nexus, Perceptive Advisors, Skyviews Life Science, and Soleus Capital

  • Compass Pathways intends to use the funds for various purposes, including expanding its lead program in psilocybin therapy for treatment-resistant depression, supporting research into additional indications, advancing its preclinical pipeline, developing digital technologies, and establishing new academic and clinical research partnerships

  • The company received FDA Breakthrough Therapy designation for its psilocybin therapy program in 2018.

      • ProblemHealthcare

      "Millions of people suffer from treatment-resistant depression, and current treatments are often ineffective or have serious side effects."

      Solution

      "Compass Pathways is developing a psilocybin therapy for treatment-resistant depression. They are conducting large-scale clinical trials and have received FDA Breakthrough Therapy designation for their program."

      Covered on