COMPASS Pathways joins the Psychiatry Consortium in a collaboration to accelerate drug discovery in mental health care
November 09 2020 - 7:00AM
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.
www.compasspathways.com
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. www.psychiatryconsortium.org
Forward-looking statementsThis 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.
Enquiries: Tracy Cheung, tracy@compasspathways.com, +44
7966 309024 Amy Lawrence, amy@compasspathways.com, +44 7813
777919Westwicke (for investor enquiries)Stephanie Carrington,
stephanie.carrington@westwicke.com, +1 646-277-1282
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