VCs in $80m series-B for Compass Pathways

Katharine Hidalgo
28 April 2020

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Venture capital backers have invested $80m in a series-B funding round for biotechnology company Compass Pathways.

Investors included Founders Fund, Able Partners, Camden Partners Nexus, Perceptive Advisors, Skyviews Life Science, Soleus Capital and new investor McQuade Center for Strategic Research and Development.

The company's earliest investor, Atai Life Sciences – which owned 25% of Compass as of 2018 – also participated. In March 2019, Atai raised $43m in a funding round led by Subversive Capital to invest in its technology platform and develop its own in-house drug discovery and development function.

Compass intends to use the funds to expand upon its lead programme in psilocybin therapy for treatment-resistant depression, supporting research into additional indications for psilocybin therapy, advancing the pre-clinical pipeline, developing digital technologies, and establishing new academic and clinical research partnerships.

Previous funding
The company held a seed round in August 2017, raising £3m from undisclosed investors.

In October 2018, investors such as Atai, Tim Davis (the founder of Source Healthcare) and Italian venture firm Principia SGR contributed £25m to the company.

Company
Compass is a healthcare company dedicated to accelerating patient access to evidence-based innovation in mental health. It is conducting a large-scale psilocybin therapy clinical trial in 20 sites across nine countries in Europe and North America. Based in London, the company was founded in 2016.

People
Compass Pathways – George Goldsmith (CEO, co-founder).