COMPASS Pathways is granted new US patent for crystalline psilocybin
COMPASS Pathways plc (Nasdaq: CMPS) announced on 19 October 2021 that it received its fourth patent from the US Patent and Trademark Office, covering the Form A hydrate of psilocybin. This new patent (US Patent No 11,149,044) includes claims related to crystalline psilocybin and its use in treating major depressive disorder. CEO George Goldsmith emphasized the importance of this innovation for developing effective therapies for patients with treatment-resistant depression, as the company continues its phase IIb clinical trial of psilocybin therapy, COMP360, across Europe and North America.
- COMPASS received US Patent No 11,149,044, expanding its intellectual property portfolio.
- The patent covers new therapeutic formulations and methods related to treating major depressive disorder.
- COMP360, the company's psilocybin therapy, is undergoing a phase IIb clinical trial, which could enhance future market potential.
- There are inherent risks associated with clinical trials that may lead to delays or termination.
- The lengthy process of preclinical and clinical development may impact timely access to market.
London, UK – 19 October 2021
COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that it has been granted its fourth patent by the US Patent and Trademark Office (USPTO). This is COMPASS’s first patent with claims covering its Form A hydrate psilocybin. The Form A hydrate is distinct from the anhydrate psilocybin for which the company has already been granted eight patents in the US, UK, Germany and Hong Kong, and which is used in COMP360, COMPASS’s synthesised psilocybin formulation being developed for psilocybin therapy in treatment-resistant depression.
The new patent, US Patent No 11,149,044, was granted on 19 October 2021, with composition claims to an alternative crystalline psilocybin, pharmaceutical formulations containing crystalline psilocybin and methods of treating major depressive disorder with the crystalline psilocybin.
George Goldsmith, CEO and Co-founder, COMPASS Pathways, said: “We are focused on developing the best therapies and bringing them to patients who are not helped by existing therapies in mental health care. With each new patent grant, the USPTO is recognising our innovation, enabling us to continue to do the highest quality clinical research and to broaden our portfolio of evidence-based therapies for patients who urgently need better options.”
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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 22 sites across Europe and North America. We are headquartered in London, UK, with offices in New York, 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.
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”, “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, COMPASS’s business strategy and goals, the benefits of additional patent protection to help achieve these goals, 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 20-F filed with the US Securities and Exchange Commission (SEC) on 9 March 2021 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.
Enquiries
Media: Tracy Cheung, tracy@compasspathways.com, +44 7966 309024
Investors: Stephen Schultz, stephen.schultz@compasspathways.com, +1 401 290 7423
FAQ
What is the significance of the new patent granted to COMPASS Pathways (CMPS)?
What does US Patent No 11,149,044 cover?
What is COMP360 and its current trial status?
How does the new patent affect COMPASS Pathways' market position?
