A Note from the Editor

This week got off to a busy start with Compass Pathways announcing on Tuesday morning that it is bringing forward its launch planning by 9-12 months, following a positive meeting with FDA and the completion of enrolment in its second, larger Phase 3 study. The psilocybin developer is expected to be the first to secure FDA approval for the drug, which could come as early as late next year or early 2027.

That same day, we also learned, via an SEC filing, that AbbVie paid $900 million upfront for Gilgamesh Pharmaceuticals’ lead psychedelic candidate, bretisilocin. Until then, there had been no public disclosure of how much of the acquisition deal, which is valued at up to $1.2bn, was paid in cash. The answer, we now know, is 75%: well above what many expected. Some investors and operators in the field view this as evidence of AbbVie’s conviction around the candidate.

Also in the psychedelic drug development world, the merging of atai Life Sciences and Beckley Psytech closed this week, with the former now trading as AtaiBeckley.

Beyond the psychedelics industry, Global Psychedelic Week debuted with online and in-person programming across the world. I was pleased to participate by moderating a panel on funding, as well as having a discussion with psychedelics researcher Robin Carhart-Harris.

I am heading to Wisconsin next week for the UW-Madison Psychedelic Symposium, so please cross your fingers and toes for minimal flight disruptions! I had a great time last year and am looking forward to delivering the final presentation of the meeting on Friday afternoon. Thereafter, I have a short stint on the East Coast. I am excited to again meet with some of our readers in person.

Below, you will find your Psychedelic News Feed, a one-stop digest for the latest coverage of psychedelics business, policy, research and beyond.

Josh Hardman
Founder & Editor