LONDON, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Compass Pathways plc (Nasdaq: CMPS)
("Compass"), a biotechnology company dedicated to accelerating patient access to
evidence-based innovation in mental health, today announced that it has
appointed Teri Loxam as Chief Financial Officer (CFO), effective the beginning
of March 2024. She will be based in the company's New York City office. Teri
will serve as an advisor during the period leading up to her appointment as
CFO.
Teri brings to Compass deep and extensive strategic experience working for
publicly traded companies, in the pharmaceutical and biotechnology sectors, and
beyond. She joins the company from Gameto, where she was CFO and played a
pivotal role in negotiating multiple licensing agreements and helping to develop
the regulatory and commercial strategy for their lead product. Teri previously
served as CFO and Chief Operating Officer of Kira Pharmaceuticals, where she
advanced their lead asset into Phase 2 and grew the company's pipeline. As CFO
of SQZ Biotech, Teri led the company to a successful IPO and raised over $200
million in her first 18 months in her role. Earlier in her career, she held
senior leadership positions in investor relations and global communications at
Merck and Co. and Bristol-Myers Squibb, and served as Vice President of Investor
Relations at IMAX, an entertainment technology company. Teri also serves as a
member of the boards of directors and audit chair of Vaxcyte, Inc. and Cardiol
Therapeutics.
"Teri's extensive success in leading biotech companies and her broad experience
through all stages of development from research to commercialization is
precisely the expertise and leadership that Compass requires as we progress our
phase 3 program in treatment-resistant depression," said Kabir Nath, CEO of
Compass Pathways. "She is a strong addition to our experienced executive
leadership team and is fully committed to our mission to bring transformative
treatments to patients who need better options. We welcome her to our passionate
and dedicated team."
Teri Loxam said: "It's a privilege to join Compass at such a pivotal time,
bringing my expertise to an organization at the forefront of mental health
innovation. With Compass's robust financial foundation, supported by a strong
balance sheet and the backing of leading biotech investors, the company is well
positioned for success. I look forward to helping the company continue its
journey and execute its strategy, as I share Compass's passion and determination
to improve mental health care for the millions of people who urgently need
better options."
Mary-Rose Hughes will continue to serve as Compass's interim CFO until Teri
assumes the full-time role in March.
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 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 (pÂ