Hamilton Morris joins COMPASS Pathways to research new psychedelic compounds

Rhea-AI Summary

COMPASS Pathways (Nasdaq: CMPS) has engaged Hamilton Morris as a full-time consultant at the COMPASS Discovery Center in Philadelphia. Morris, a renowned research scientist and filmmaker, will focus on developing new psychedelic compounds for mental health therapies. This collaboration aims to enhance the exploration of psychedelics' medicinal value. COMPASS is known for its innovative psilocybin therapy, COMP360, which has received Breakthrough Therapy designation for treating treatment-resistant depression (TRD) and is currently undergoing a phase IIb clinical trial.

Positive

• Hamilton Morris joins COMPASS as a full-time consultant, enhancing research capabilities.
• The partnership aims to develop new psychedelic compounds addressing unmet mental health needs.
• COMP360, COMPASS's psilocybin therapy, is designated as a Breakthrough Therapy by the FDA.

Negative

• None.

      
COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, has engaged Hamilton Morris, the research scientist and film-maker, as a full-time consultant, who will be working primarily at the COMPASS Discovery Center, based at University of the Sciences in Philadelphia (USciences) in the United States. Mr Morris will be advising COMPASS on research related to new psychedelic compounds that could be developed into therapies in areas of unmet mental health need.

Hamilton Morris is the creator and director of the documentary series Hamilton's Pharmacopeia, in which he investigates the chemistry, history, and cultural impact of various psychoactive drugs. He also carries out chemistry research at USciences, alongside the COMPASS Discovery Center team there, led by Dr Jason Wallach, Assistant Professor of Pharmaceutical Sciences at USciences.

Mr Morris said: “For over a decade, Jason and I have worked together studying the chemistry and pharmacology of psychedelics. Working with the COMPASS team will allow us to make strides in developing novel psychedelics that could have tremendous medical and scientific value.”

Lars Wilde, Chief Business Officer, President and Co-founder, COMPASS Pathways, said, “I am delighted to welcome Hamilton to our team. He is already well known for his deep knowledge and his enthusiasm. I believe his expertise will further enhance our world-class team of scientists who are finding new compounds for our portfolio of therapies for patients who are suffering with serious mental health challenges.”

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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, the efficacy of COMP360 psilocybin therapy as a treatment for depression, the expected timing for reporting data related to COMP360, COMPASS’s business strategy and goals, COMPASS’s ability to continue to advance its research, including COMP360, COMPASS’s expectations regarding the benefits of its psilocybin therapy, including COMP360 and COMPASS’s ability to advance new psychedelic compounds in other areas of unmet mental health need. 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 Hamilton Morris joining COMPASS Pathways (CMPS)?

Hamilton Morris will enhance COMPASS's research on psychedelic compounds for mental health therapies.

What is COMP360 and its status in clinical trials?

COMP360 is COMPASS's psilocybin therapy for treatment-resistant depression, currently in a phase IIb clinical trial.

How does COMPASS Pathways address unmet mental health needs?

COMPASS focuses on developing innovative therapies using psychedelics, targeting areas where current treatments are inadequate.

What is the role of the COMPASS Discovery Center in Philadelphia?

The COMPASS Discovery Center is where new psychedelic compounds are researched and developed for potential therapeutic use.