COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced it is partnering with One Mind, a leading mental health research non-profit based in California, to sponsor three “2022 One Mind – COMPASS Rising Stars Awards”.
The One Mind Rising Star Awards are given each year to promising early career investigators who are pursuing research with the potential to dramatically advance the understanding and treatment of mental illnesses, and to improve patient outcomes. A Request for Applications was issued by One Mind today and up to three winners will be selected by One Mind’s Scientific Advisory Board through a competitive process. The winners, to be announced in September 2022, will each receive a $300,000 research grant sponsored by COMPASS over three years. They will also be eligible to participate in select leadership development and entrepreneurship opportunities through the One Mind Rising Star Development Program offered by One Mind.
Brandon Staglin, President, One Mind, said, “Since 2005, One Mind has awarded 40 Rising Star Awards to some of the best and brightest early-career brain scientists. We want to catalyse innovation and encourage collaboration and data-sharing so that we can make an impact on some truly devastating illnesses. We are delighted to be working with COMPASS, whose mission and values, and single-minded focus on patient care, fit so well with everything we do at One Mind.”
This partnership with One Mind is aligned to COMPASS’s commitment to identify and support world class talent in neuroscience and mental health research. COMPASS is a founding supporter of the British Neuroscience Association’s inaugural Scholars programme which supports scientists from under-represented ethnic groups. COMPASS also funds several PhD students in neuroscience in leading institutions in the US and Europe.
Ekaterina Malievskaia MD, Chief Innovation Officer and Co-founder, COMPASS Pathways, said, “Many of us at COMPASS know first-hand how difficult it can be to live with a mental health disorder. We have long admired the work that One Mind does in pushing the boundaries of brain health research and supporting high-risk innovation. We are excited about this collaboration and look forward to supporting the next generation of brain research scientists.”
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 have completed a phase IIb clinical trial of psilocybin therapy for TRD, in 22 sites across Europe and North America. This was the largest randomised, controlled, double-blind psilocybin therapy clinical trial ever conducted, and our topline data showed a statistically significant (p<0.001) and clinically relevant improvement in depressive symptom severity after three weeks for patients who received a single high dose of COMP360 psilocybin with psychological support. We are also running a phase II clinical trial of COMP360 psilocybin therapy for post-traumatic stress disorder (PTSD). COMPASS is headquartered in London, UK, with offices in New York and San Francisco in the 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.
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. Forward-looking statements include express or implied statements relating to, among other things, the safety or efficacy of COMP360 psilocybin therapy as a treatment for depression, COMPASS’s business strategy and goals, including its ability to launch and commercialise products, COMPASS’s ability to continue to advance its research or develop plans to bring its product candidates to patients, including COMP360, and COMPASS’s expectations regarding the benefits of its psilocybin therapy. 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: 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; and those risks and uncertainties described under the heading “Risk Factors” in COMPASS’s annual report on Form 10-K filed with the US Securities and Exchange Commission (SEC) on 24 February 2022 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.
About One Mind
One Mind is a leading mental health non-profit that heals lives through brain research, working from science to services to society. By bringing together the best minds in brain science and advocacy around our collective vision of “Accelerating Brain Health for All”, One Mind is advancing a three-pronged program strategy of accelerating discoveries, scaling implementation and transforming societal culture. Together, we are creating a world where all individuals facing brain health challenges can build healthy, productive lives. www.onemind.org
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