LONDON, March 28, 2024 (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 Board Chair and
co-founder George Goldsmith and fellow co-founder Ekaterina Malievskaia have
resigned their seats on the company's board of directors, effective March
29, 2024.
David Norton, lead independent director on the Compass board of directors, will
become interim chair. Compass is running a global search for a permanent board
chair, focused on recruiting a leader with a strong background in the
biotechnology sector and broad strategic experience across the product
lifecycle.
"When we started Compass eight years ago, we could not have imagined how the
company would grow and mature," said George Goldsmith, outgoing board chair of
Compass Pathways. "The company is on a strong, positive trajectory to develop
psilocybin treatment under Kabir Nath's principled leadership. My commitment to
transforming mental health care is unwavering. It is time to turn my attention
to the next phase of making this vision a reality for patients, providers and
health systems independent of any particular treatment modality."
"Everyone has a story, and too often this story includes the shortcomings of
existing treatments and the pain and frustration of navigating the system," said
Ekaterina Malievskaia. "I step down from the board convinced that the company is
in good hands and on the right track financially, in its programs, and in
preparation for a potential commercial launch to bring treatments to those in
need. Innovation in mental health care remains as important to me as it was ten
years ago, and I plan to continue to apply my experience and knowledge to the
field."
"George and Katya leave an enduring legacy at Compass Pathways and across the
field of mental health care," said David Norton. "Their leadership and
compassion for people living with difficult-to-treat mental health conditions,
their commitment to rigor and evidence, and their focus on ensuring broad and
equitable access to innovation in mental health have moved us closer to
achieving the vision they set when they launched the company: a world of mental
wellbeing. Thanks to their leadership, Compass is in a strong position as it
continues to execute its phase 3 program in treatment-resistant depression. We
wish them all the best as they move into the next phase of their careers and
continue their efforts to transform mental health care."
George and Ekaterina co-founded Compass Pathways in 2016. George served as Chief
Executive Officer of the company from its founding until August 1, 2022, when
Kabir Nath assumed the role. Ekaterina served as Chief Innovation Officer until
she stepped down from her executive role in June 2023. This transition is a
natural evolution as Compass has matured as a public company and progresses
through late-stage clinical development and into commercial preparations.
Key accomplishments of their tenure at the company and on the board include:

  * Building a mission driven, multi-disciplinary team of people committed to
    changing the patient experience of mental health care
  * Achieving Breakthrough Therapy Designation from the US Food and Drug
    Administration and Innovative Licensing and Access Pathway designation in
    the UK for COMP360, Compass's proprietary formulation of synthetic
    psilocybin, in treatment-resistant depression (TRD)
  * The design, launch and completion of the largest study of psilocybin ever

conducted, the results of which were published in the New England Journal of

    Medicine and laid the groundwork for the company's phase 3 program in TRD
  * Several rounds of successful financing, including a successful initial
    public offering on NASDAQ in September 2020
  * The establishment of key partnerships, including the Centre for Mental
    Health Research and Innovation in collaboration with King's College London
    (KCL) and the South London and Maudsley NHS Foundation Trust

David Norton is a former Company Group Chairman of Global Pharmaceuticals for
Johnson & Johnson. He began his career with J&J in 1979 and held several
positions across the company, including Company Group Chairman, Worldwide
Commercial and Operations for the CNS/internal medicine franchise, Company Group
Chairman for the pharmaceutical businesses in Europe, the Middle East and
Africa, and Company Group Chairman for the pharmaceutical businesses in North
America. He has been a member of the Compass board of directors since 2018,
serving as lead independent director. He also serves on the board of directors
of Forepont Capital.
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 living 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