Compass Pathways Collaborates with Osmind to Advance Independent Clinic Readiness for Psychedelic Treatments
Compass Pathways plc (NASDAQ:CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation announced today it has entered into a collaboration with Osmind, the platform powering a nationwide network of interventional psychiatry practices. This collaboration will inform how small-to-medium sized clinics nationwide can effectively deliver novel psychedelic treatments, if FDA approved. The agreement with Osmind further expands the set of collaborations that Compass has established to inform the potential delivery of COMP360 in a broad spectrum of settings where people living with mental health conditions receive their care in the United States.
Osmind is a public benefit corporation advancing psychiatry through technology, services, and real-world evidence to bring innovative mental health treatments to patients in need. Osmind's network of over 1,000 clinics comprises one of the country's largest network of interventional psychiatry practices. Its psychiatry-tailored software and services are designed to enable clinicians to offer innovative psychiatric treatments sustainably, without giving up independence. Together, Compass and Osmind aim to better understand the operational, clinical, and infrastructure needs of independent psychiatry practices, and to help inform scalable, real-world pathways for the potential delivery of psychedelic treatments in community-based settings.
"A core focus for Compass is to ensure that COMP360 can be delivered responsibly, safely, and effectively in the real-world settings where patients receive care," said Dr. Steve Levine, Chief Patient Officer at Compass Pathways. "Through this collaboration, we will support Osmind and their network to prepare for the potential delivery of psychedelic treatments, learning alongside them to better understand the needs of independent practices. Together, we aim to inform scalable, patient-centered care models that uphold the highest standards of quality as clinics nationwide prepare for the potential future delivery of COMP360."
"Independent psychiatry practices are where the vast majority of patients receive their care – but they've historically been left behind when it comes to adopting innovative treatments because the operational burden is simply too high," said Jimmy Qian, Co-Founder and President of Osmind. "This collaboration combines Osmind's deep understanding of practice management with Compass' scientific expertise, helping to inform how breakthrough psychedelic treatments can be integrated into everyday practice in a way that aligns patient safety, clinical excellence, access, and practice success."
About Compass Pathways
Compass Pathways plc (NASDAQ:CMPS) is a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. We are motivated by the need to find better ways to help and empower people with serious mental health conditions who are not helped by existing treatments. We are pioneering a new paradigm for treating mental health conditions focused on rapid and durable responses through the development of our investigational COMP360 synthetic psilocybin treatment, potentially a first in class treatment. COMP360 has Breakthrough Therapy designation from the US Food and Drug Administration (FDA) and has received Innovative Licensing and Access Pathway (ILAP) designation in the UK for treatment-resistant depression (TRD).
Compass is headquartered in London, UK, with offices in New York in the US. We envision a world where mental health means not just the absence of illness but the ability to thrive.
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, statements regarding our expectations regarding our business strategy and goals; our expectations regarding the safety or efficacy of our investigational COMP360 psilocybin treatment, including as a treatment of TRD or PTSD; the potential for the pivotal phase 3 program in TRD to support regulatory filings and approvals on an accelerated basis or at all; our ability to obtain FDA approval and adequate coverage and reimbursement for COMP360 psilocybin treatment; our expectations regarding potential commercial launch timelines and our commercial readiness; and our plans, expectations and ability to achieve the goals related to this research collaboration agreement. 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: uncertainties associated with risks related to clinical development which is a lengthy and expensive process with uncertain outcomes, and therefore our clinical trials may be delayed or terminated and may be more costly than expected; our need for additional funding to achieve our business goals; our efforts to obtain marketing approval from FDA or regulatory authorities in any other jurisdiction for our investigational COMP360 psilocybin treatment may be unsuccessful; our efforts to commercialize and obtain coverage and reimbursement for our investigational COMP360 psilocybin treatment, if approved, may be unsuccessful; the risk that this research collaboration with Osmind will not continue or will not achieve the expected benefits; uncertainties regarding the ability to develop a scalable and practical delivery model for COMP360 psilocybin treatment; market adoption and access to COMP360 psilocybin treatment, if approved, may be limited; and those risks and uncertainties described under the heading "Risk Factors" in Compass's most recent annual report on Form 10-K or quarterly report on Form 10-Q, the prospectus supplement related to the proposed public offering we plan to file 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 http://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.
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