Compass Pathways and Greenbrook TMS enter into three-year research collaboration agreement
Three-year research collaboration will investigate the development of scalable, commercial delivery models for COMP360 psilocybin treatment, if FDA-approved
LONDON, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Compass Pathways plc (Nasdaq: CMPS) (“Compass”), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, and Greenbrook TMS Inc. (NASDAQ: GBNH) (“Greenbrook TMS”), a leading provider of Transcranial Magnetic Stimulation and Spravato® (esketamine nasal spray)—FDA-cleared, non-invasive therapies for the treatment of major depressive disorder and other mental health disorders, in the United States—today jointly announced that they have entered into a three-year research collaboration agreement to explore delivery models for investigational COMP360 psilocybin treatment ("COMP360") upon regulatory approval by the U.S. Food and Drug Administration (“FDA”).
The collaboration will research and investigate models for the delivery of scalable, commercial COMP360 within healthcare systems, assuming FDA approval. The initial phase of the collaboration will comprise research into the delivery of COMP360 at treatment centers across the United States, such as through Greenbrook TMS’s current network of treatment centers, working with their patient populations, which include people suffering with treatment-resistant depression (TRD) and other mental health conditions.
In-depth research will include exploring how to improve the patient care experience and gaining a better understanding of therapist needs and investigating the potential use and integration of digital tools within Greenbrook TMS’s existing care pathways.
COMP360 has been designated a “Breakthrough Therapy” by the FDA for TRD. Compass has commenced a phase 3 clinical program of COMP360 in TRD and intends to apply for FDA approval upon completion of clinical trials.
“Whilst we urgently need more innovative medicines in mental health care, it is just as essential to deliver them at pace to people in greatest need,” said Kabir Nath, Chief Executive Officer of Compass Pathways. “We’re pleased to enter into this research collaboration with Greenbrook TMS to learn how this can be optimized at scale and in the most cost-effective way for our healthcare systems if COMP360 receives regulatory approval.”
“We are proud to collaborate with Compass to explore how we can bring innovative treatments to patients safely and conveniently,” said Bill Leonard, President and Chief Executive Officer of Greenbrook TMS. “Our depth of experience and nationwide presence offer a great platform for scaling new treatments that solve issues with awareness, geographic convenience and fiscal viability. Our team excels at navigating through barriers to care so that patients can receive and benefit from the latest therapeutics.”
About Compass PathwaysCompass 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 COMP360 psilocybin treatment in TRD, the largest randomized, 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
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