COMPASS Pathways secures $285m to advance psilocybin mental health treatments
The private financing round was led by TCGX and Aisling Capital to fund clinical trials and commercial planning.
≈ £224M at $1 = £0.7853 on 18 Aug 2023
A London based biotechnology enterprise developing psilocybin therapies for mental health conditions.
London based COMPASS Pathways has secured $285m in private funding led by TCGX and Aisling Capital, with participation from a broad consortium of institutional healthcare investors. The capital injection is structured across two tranches, comprising an initial issuance of American Depositary Shares and rights to purchase additional shares over a three year period.
The proceeds will be directed towards advancing the firm's phase 3 clinical programme for treatment resistant depression, alongside ongoing phase 2 trials, digital technology development, and commercial planning. According to the company, the financing extends its operational runway into late 2025.
From the founder
"We are grateful for the support of this group of leading healthcare investors for our work to bring potentially transformative treatment for mental health conditions to patients urgently in need of better options. We thank these investors for their confidence in our rigorous approach to building a strong base of evidence for the potential of COMP360 psilocybin treatment to help people with treatment-resistant depression (TRD), post-traumatic stress disorder, and anorexia nervosa."
Kabir Nath
Chief Executive Officer at COMPASS Pathways
Use of funds
- 01Fund research and development
- 02Continue product development
Investors
TCGX
Aisling Capital
Vivo Capital
RA Capital
Surveyor Capital
Paradigm BioCapital Advisors
Soleus Capital
Armistice Capital
Logos Capital
PFM Health Sciences
Laurion Capital
Categories
About the company
COMPASS Pathways
Developing synthetic psilocybin formulations for treatment resistant mental health conditions.