Compass Pathways, a London, UK-based mental health care company, completed an $80m Series B funding round.
Backers included existing investor ATAI Life Sciences and new investor the McQuade Center for Strategic Research and Development (a member of the global Otsuka family of pharmaceutical companies), Founders Fund, Able Partners, Camden Partners Nexus, Perceptive Advisors, Skyviews Life Science, and Soleus Capital.
The company intends to use the funds to expand upon its lead programe in psilocybin therapy for treatment-resistant depression, supporting research into additional indications for psilocybin therapy, advancing the preclinical pipeline, developing digital technologies, and establishing new academic and clinical research partnerships.
Led by George Goldsmith, CEO and Co-founder, and Lars Wilde, President, Chief Business Officer and Co-founder, Compass Pathways is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. It is conducting a large-scale psilocybin therapy clinical trial, in 20 sites across nine countries in Europe and North America.
The company received FDA Breakthrough Therapy designation for its program of psilocybin therapy in treatment-resistant depression in 2018.