COMPASS Pathways joins the Psychiatry Consortium in a collaboration to accelerate drug discovery in mental health care
London, UK - 9 November 2020
COMPASS Pathways plc (Nasdaq: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, has joined the Psychiatry Consortium, an international collaboration to accelerate drug discovery and development in areas of urgent, unmet medical need.
The Psychiatry Consortium, managed by Medicines Discovery Catapult, is a strategic collaboration of leading medical research charities and pharmaceutical companies focusing on the challenge of identifying and validating novel drug targets to address the unmet therapeutic needs of people living with mental health conditions. COMPASS Pathways will work alongside Psychiatry Consortium members and academic partners to advance research projects, providing support through access to funding, expertise, and commercialisation know-how. The Psychiatry Consortium seeks project proposals from the global psychiatric research community via biannual open calls for applications - the next call for applications will open in January 2021.
Dr Gary Gilmour, Director of Preclinical Research, COMPASS Pathways, said, “The scale of today’s mental health crisis is huge, and is getting bigger every day. The Psychiatry Consortium is bringing leading experts and resources together to speed up and reinvigorate the drug discovery process, and we are proud to be part of it. By working towards a common goal, we can bring evidence-based innovations to the people who need them, as quickly as possible.”
About COMPASS Pathways
COMPASS Pathways plc (Nasdaq: CMPS) is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. Our focus is on improving the lives of those who are suffering with mental health challenges and who are not helped by current treatments. We are pioneering the development of a new model of psilocybin therapy, in which our proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. COMP360 has been designated a Breakthrough Therapy by the US Food and Drug Administration (FDA), for treatment-resistant depression (TRD), and we are currently conducting a phase IIb clinical trial of psilocybin therapy for TRD, in 20 sites across Europe and North America. We are headquartered in London, UK, with offices in New York, USA. Our vision is a world of mental wellbeing.
About the Psychiatry Consortium
The Psychiatry Consortium is a strategic collaboration of leading medical research charities and pharmaceutical companies focusing on the challenge of identifying and validating novel drug targets to address the unmet therapeutic needs of the people living with mental health conditions. The Psychiatry Consortium is managed by Medicines Discovery Catapult and supported by Wellcome.
Forward-looking statements
This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding COMPASS’s expectations of its future working relationship with Psychiatry Consortium. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the ability of Psychiatry Consortium to undertake or advance its research projects. Forward-looking statements contained in this announcement are made as of this date, and COMPASS undertakes no duty to update such information except as required under applicable law.
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