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British biotech company: COMPASS Pathways plc (CMPS) (2012)

COMPASS Pathways plc (NASDAQ:CMPS) was founded in 2012 and is headquartered in the United Kingdom with 48 full-time employees. It is a mental health company dedicated to accelerating patients’ access to evidence-based mental health innovation opportunities.

COMPASS Pathways

COMPASS Pathways plc (CMPS):

The motivation of COMPASS Pathways is to find better ways to help and strengthen people with mental illnesses, and these people are not helped with the help of existing therapies, and the company is creating a new psilocybin treatment model (Psilocybin Therapy), this model combines psilocybin with psychotherapy.

The initial focus of COMPASS Pathways is treatment-resistant depression (TRD), which is a subset of major depressive disorder (MDD) that includes patients underserved by the current treatment paradigm. Early signals from academic studies indicate that the use of psilocybin preparations shows that psilocybin therapy may have the potential to improve the prognosis of TRD patients. After a high dose, it can quickly reduce depression symptoms and last up to six months.

COMPASS Pathways has developed a new proprietary polymorphic crystal formula psilocybin-COMP360. In 2019, the company completed a phase I clinical trial of 89 healthy volunteers. The trial provided COMP360 and psychological support to 89 healthy volunteers. This is the largest randomized controlled trial of psilocybin treatment so far. In this trial, COMPASS Pathways observed that COMP360 is generally well tolerated and supports the continuation of Phase IIb studies.

COMPASS Pathways plc (CMPS) financing:

  • On August 17, 2017, the seed round of financing, COMPASS Pathways received 3 million pounds of funding.
  • On October 3, 2018, in the A round of financing, COMPASS Pathways received 25 million pounds from individual investor Tim Davis and institutional investor Principia SGR.
  • On April 27, 2020, in the B round of financing, COMPASS Pathways received the lead investment from McQuade Center for Strategic Research and Development, followed by Skyviews Life Science, Able Partners, ATAI Life Sciences, Founders Fund, Soleus Capital, Camden Partners and Perceptive Advisors. Invested 80 million US dollars in investment.
  • Before the listing, COMPASS Pathways had raised a total of US$116.2 million.

COMPASS Pathways plc (CMPS) investment:

COMPASS Pathways plc (NASDAQ: CMPS) listed on NASDAQ on 9/18/2020 IPO, planned issue price of $14.00-$16.00, actual issue price of $17, issued 6.7 million shares, raised $113.9 million, Cowen/Evercore ISI / Berenberg underwriting, joint Canaccord Genuity.

Listed on the same day are: Unity Software (U), COMPASS Pathways (CMPS), Athira Pharma (ATHA).

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