Compass Pathways appoints Lori Englebert as Chief Commercial Officer

Rhea-AI Summary

Compass Pathways has appointed Lori Englebert as Chief Commercial Officer, effective July 8, 2024. Lori joins from Axsome Therapeutics, where she was instrumental in the company's transition from clinical to commercial stage. Her experience includes commercializing CNS-focused assets at Axsome and Amgen. This appointment follows Teri Loxam as CFO and Dr. Michael Gold as Chief R&D Officer earlier this year. CEO Kabir Nath highlights the strengthened leadership team as important for navigating phase 3 trials and potential regulatory approval of COMP360, a psilocybin treatment for treatment-resistant depression.

Positive

• Lori Englebert's extensive experience in commercializing pharmaceutical products is expected to strengthen Compass's commercial strategy.
• The appointment is part of a broader executive team enhancement, indicating strong leadership support for upcoming phase 3 trials and potential commercialization.
• A robust leadership team with decades of strategic experience in drug development enhances investor confidence.

Negative

• None.

• New executive appointment made ahead of pivotal study results, potential regulatory approval and subsequent commercialization of investigational COMP360 psilocybin treatment
• Latest of several key executive team hires, rounding out team to take Compass through phase 3 and beyond

LONDON, June 26, 2024 (GLOBE NEWSWIRE) -- Compass Pathways plc (Nasdaq: CMPS) (“Compass”), a biotechnology company dedicated to accelerating access to evidence-based innovation in mental health, today announced the appointment of Lori Englebert as Chief Commercial Officer, effective July 8, 2024. She will be based in the company’s New York City office.

Lori brings multifaceted experience in global pharmaceuticals and joins from Axsome Therapeutics, where she spent nearly five years as a member of the executive team serving as head of commercial and business development and most recently as head of product strategy. She played an integral role in bringing the company from clinical-stage to commercial-stage and was responsible for formulating commercial launch strategy and scaling the commercial organization. Over her career, Lori has launched multiple CNS-focused assets, at Axsome and at Amgen, where she spent nearly a decade in several global brand roles, including neuroscience and oncology/hematology, as well as roles in commercial strategy and operations, corporate strategy and business development.

Lori’s appointment follows that of Teri Loxam as Chief Financial Officer in March 2024 and Dr. Michael Gold as Chief Research & Development Officer in May 2024. All three executive team members bring decades of successful strategic leadership and highly relevant experience in drug development.

“With Lori’s appointment, and with Teri and Mike joining the company earlier this year, Compass Pathways now has in place an experienced executive team to lead us through our phase 3 program in treatment-resistant depression and prepare for a commercial launch should we receive regulatory approval for COMP360,” said Kabir Nath, CEO of Compass Pathways. “Lori’s success in scaling commercial organizations across global functions will build on the work we have already begun to inform how to deliver COMP360 to patients and ensure broad and equitable access. I am delighted to welcome Lori to our leadership team, united by our mission to bring better options to people who urgently need them.”

“I’m thrilled to be joining the Compass Pathways team at such an exciting and pivotal time for the company and the broader field of mental health,” said Lori Englebert. “I feel a deep connection to the mission, and I am passionate about helping bring transformative new therapies to the many patients who need better therapeutic options. I am excited by the challenge of bringing a potentially paradigm-shifting new treatment to patients and I am delighted that I will be working alongside such an experienced team of leaders.”

About Compass Pathways
Compass Pathways plc (Nasdaq: CMPS) is a biotechnology 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 treatment, 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 U.S. Food and Drug Administration (FDA) and has received Innovative Licensing and Access Pathway (ILAP) designation in the UK for treatment-resistant depression (TRD). We have commenced a phase 3 clinical program of COMP 360 psilocybin treatment in TRD, the largest randomised, controlled, double-blind psilocybin treatment clinical program ever conducted. Previously, we completed a phase 2b study with top line data showing 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 conducting a phase 2 clinical study of COMP360 psilocybin treatment for anorexia nervosa. Compass is headquartered in London, UK, with offices in New York and San Francisco in the United States. Our vision is a world of mental wellbeing. www.compasspathways.com

Forward-looking statements
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”, “will”, “could”, “would”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “potential” and “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, our expectations regarding the impact of senior management transitions; the safety or efficacy of investigational COMP360 psilocybin treatment as a treatment for TRD, PTSD or anorexia nervosa; the potential for the pivotal phase 3 program in TRD or other trials to support regulatory filings and approvals; our ability to obtain regulatory approval; our ability to scale our commercial team, and to transition from a clinical-stage to a commercial-stage organization and effectively launch a commercial product, if regulatory approval is obtained; and our expectations regarding the benefits of our investigational COMP360 psilocybin treatment. 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 our 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: clinical development is lengthy and outcomes are uncertain, and therefore our clinical trials may be delayed or terminated; the results of early-stage clinical trials of our investigational COMP360 psilocybin treatment may not be predictive of the results of later stage clinical trials; we will require substantial additional funding to achieve our business goals and if we are unable to obtain this funding when needed and on acceptable terms, we could be forced to delay, limit or terminate our clinical development and commercial planning efforts; our efforts to obtain marketing approval from the applicable regulatory authorities in any jurisdiction for COMP360 or any of future product candidates may be unsuccessful; our efforts to commercialize and obtain coverage and reimbursement for our investigational COMP360 psilocybin treatment, if approved, may be unsuccessful; our ability to successfully manage senior management changes and our ability to retain key personnel; and those risks and uncertainties described under the heading “Risk Factors” in our most recent annual report on Form 10-K or quarterly report on Form 10-Q and in other reports we have filed with the U.S. Securities and Exchange Commission (“SEC”) , which are available on the SEC’s website at www.sec. Except as required by law, we disclaim 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 our current expectations and speak only as of the date hereof.

Enquiries
Media: Sally Bain, sally.bain@compasspathways.com, + 1 781 458 0443
Investors: Stephen Schultz, stephen.schultz@compasspathways.com, +1 401 290 7324

FAQ

When will Lori Englebert start her role as Chief Commercial Officer at Compass Pathways?

Lori Englebert will start her role as Chief Commercial Officer on July 8, 2024.

What experience does Lori Englebert bring to Compass Pathways?

Lori Englebert has extensive experience in global pharmaceuticals, having held key roles at Axsome Therapeutics and Amgen, where she focused on commercial strategy and launching CNS-focused assets.

What recent executive appointments has Compass Pathways made?

In addition to Lori Englebert, Compass Pathways recently appointed Teri Loxam as Chief Financial Officer in March 2024 and Dr. Michael Gold as Chief Research & Development Officer in May 2024.

What is the significance of Lori Englebert's appointment for Compass Pathways?

Lori Englebert's appointment is significant as it strengthens the leadership team ahead of pivotal COMP360 phase 3 trial results and potential regulatory approval.

What is COMP360 and how does it relate to Compass Pathways?

COMP360 is an investigational psilocybin treatment developed by Compass Pathways for treatment-resistant depression. The company is preparing for phase 3 trials and potential commercialization.