COMPASS Pathways expands its Discovery Center through new collaborations with world-leading scientists


COMPASS Pathways expands its Discovery Center through new collaborations with world-leading scientists

Adam Halberstadt and John McCorvy join Jason Wallach to develop new psychedelic compounds at the virtual Discovery Center

London, UK 9 February 2021 COMPASS Pathways plc (Nasdaq: CMPS) ("COMPASS"), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that it has expanded its Discovery Center, through collaborations with world-leading laboratories at UC San Diego, School of Medicine, and Medical College of Wisconsin (MCW). Adam Halberstadt PhD, Associate Professor, Psychiatry, UC San Diego, and John D McCorvy PhD, Assistant Professor, Department of Cell Biology, Neurobiology and Anatomy, MCW, and their teams, will join Jason Wallach PhD, Assistant Professor of Pharmaceutical Sciences, University of the Sciences (Philadelphia), at the Discovery Center, a group of researchers working together, virtually. The COMPASS Discovery Center was established in August 2020 through a sponsored research agreement between COMPASS and University of the Sciences. It is led by Jason Wallach's laboratory at University of the Sciences and is now expanding its research network across the US, with Adam Halberstadt in San Diego, and John McCorvy in Wisconsin. The scientists intend to develop new, optimised psychedelic compounds to address unmet medical need. COMPASS will be the exclusive licensee for all new compounds generated. Adam Halberstadt PhD is an expert on the behavioural neuropharmacology of psychedelics. He leads a team studying how psychedelics interact with serotonin systems and the implications for psychedelic therapy. Dr Halberstadt was the co-editor of the book Behavioural Neurobiology of Psychedelic Drugs and developed an efficient, automated head-twitch response preclinical assay that is now helping to expedite the screening of novel psychedelic compounds. John McCorvy PhD is a 5-HT receptor pharmacologist and expert in G protein-coupled receptor (GPCR) signalling. His lab at MCW studies multiple aspects of GPCR signalling elicited by psychedelic, antipsychotic and antidepressant drugs. This work includes the importance of functional selectivity, whereby different drugs bind to the same receptor to cause different effects. He will be conducting detailed pharmacological characterisations of new compounds.


Jason Wallach PhD, who is leading the work at the Discovery Center, is a leading chemist and pharmacologist who studies a broad range of psychoactive compounds, including psychedelic and dissociative drugs. He said, "Psilocybin and other psychedelic compounds have shown promise for helping people suffering with mental health challenges, such as treatment-resistant depression. The Discovery Center is investigating whether similar compounds could have superior properties to psilocybin. We are looking for the next generation of compounds that might make a difference to patients. I'm honoured to be collaborating with Dr Halberstadt and Dr McCorvy, who bring increased breadth and depth of expertise to our research."

Lars Wilde, Chief Business Officer and Co-founder, COMPASS Pathways, said, "This is a really exciting collaboration with three of the world's most eminent scientists in psychedelic research. The Discovery Center will focus on preclinical research of novel psychedelic compounds addressing significant unmet need in a number of mental health indications. We believe that this will enable us to build a broad portfolio that will ultimately help patients and bring us closer to our vision of a world of mental wellbeing."


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 22 sites across Europe and North America. We are headquartered in London, UK, with offices in New York, US. Our vision is a world of mental wellbeing. www.compasspathways.com

Availability of other information about COMPASS Pathways

Investors and others should note that we communicate with our investors and the public using our website (www.compasspathways.com), our investor relations website (ir.compasspathways.com) and on social media (LinkedIn), including but not limited to investor presentations and investor fact sheets, US Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that we post on these channels and websites could be deemed to be material information. As a result, we encourage investors, the media, and others interested in us to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on our investor relations website and may include additional social media channels. The contents of our website or these channels, or any other website that may be accessed from our website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933.


  Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. In some cases, forward-looking statements can be identified by terminology such as "may", "might", "will", "could", "would", "should", "expect", "intend", "plan", "objective", "anticipate", "believe", "contemplate", "estimate", "predict", "potential", "continue" and "ongoing," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond COMPASS's control and which could cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements.

These risks, uncertainties, and other factors include, among others, the risk that preclinical research and clinical development is lengthy and uncertain, and therefore our preclinical studies and clinical trials may be delayed or terminated, or may never advance to or in the clinic, the risk that results of preclinical studies may not be predictive of the results of clinical trials, and those risks and uncertainties described under the heading "Risk Factors" in COMPASS's Prospectus filed with the US Securities and Exchange Commission (SEC) on 21 September 2020 and in subsequent filings made by COMPASS with the SEC, which are available on the SEC's website at www.sec.gov. Except as required by law, COMPASS disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on COMPASS's current expectations and speak only as of the date hereof.


Media enquiries:  
Tracy Cheung, tracy@compasspathways.com , +44 7966 309024

     Investor enquiries:  

Stephen Schultz, stephen.schultz@compasspathways.com , +1 401 290 7324


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)

Compass Pathways to participate in Stifel 2024 Healthcare Conference

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will present at the Stifel 2024 Healthcare Conference at 10:55 am ET on November 19, 2024.

A live audio webcast of the presentation will be accessible from the "Events" page of the Investors section of the Compass website. A replay of the webcast will be accessible for 30 days following each event.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Compass Pathways Announces Third Quarter 2024 Financial Results and Business Updates

  • Top-line COMP005 data for COMP360 phase 3 pivotal program in treatment-resistant depression now expected in second quarter 2025
  • COMP006 data will now be announced after 26-week time point, expected in the second half of 2026
  • Strategic reorganization to focus all efforts on COMP360 program resulting in reduction of workforce of approximately 30%
  • Cash position of $207 million
  • Conference call October 31 at 8:00 am ET (12:00 pm UK)

Compass Pathways plc (Nasdaq: CMPS) ("Compass"), a biotechnology company dedicated to accelerating access to evidence-based innovation in mental health, today reported its financial results for the third quarter 2024 and an update on recent business progress.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Emyria Limited

Emyria and UWA in Partnership to Commercialise Novel Serotonin-Releasing Agents for Mental Health and Neurology

Emyria Limited (ASX: EMD) (“Emyria”, or the “Company”) has signed an exclusive licence agreement with UWA, granting worldwide rights to a rapidly growing portfolio of selective serotonin-releasing agents. (See Appendix for Key Commercial Terms). These novel compounds, realised through a UWA–Emyria research partnership launched in 2021,2 include potential next-generation treatments for mental health and neurological conditions such as PTSD and Parkinson’s disease.

Keep reading...Show less

Seelos Announces Second Postponement of its Annual Meeting of Stockholders

Seelos Therapeutics, Inc. (OTCQB: SEEL) ("Seelos"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today announced that its 2024 Annual Meeting of Stockholders (the "Annual Meeting"), which was previously postponed to Friday, October 25, 2024 from its originally scheduled date of Friday, September 27, 2024 has been further postponed. The Annual Meeting is now scheduled to be held virtually, via live webcast at www.virtualshareholdermeeting.comSEEL2024 on Monday, November 25, 2024 at 8:00 a.m., Eastern Time . The record date for the Annual Meeting, August 19, 2024 is unchanged and applies to the postponed Annual Meeting.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Compass Pathways to Announce Third Quarter Financial Results on October 31, 2024

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that it will release financial results for the third quarter 2024 ending September 30, 2024, and provide an update on recent business developments, on October 31, 2024.

The management team will host a conference call at 8:00 am ET (12:00 pm UK) on October 31, 2024. To access the call, please register in advance here to obtain a local or toll-free phone number and your personal pin.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Quantum Biopharm (CSE: QNTM)

Quantum BioPharma Files a US Federal Lawsuit Against CIBC World Markets, RBC Dominion Securities and Others, Seeking Damages in Excess of $700,000,000 USD, for Possible Stock Price Manipulation/Spoofing

Christian Attar Law Firm and Freedman Normand Friedland LLP, in conjunction with forensic investigators, have uncovered evidence of a potential multi-year market manipulation scheme that has caused substantial damages to the Company and its shareholders


Keep reading...Show less

Latest Press Releases

Related News

×