A lobbyist requested House Bill 2218 on behalf of Compass Pathways… “This bill does not decriminalize or legalize psilocybin or any other psychedelic substance, nor does this bill allow access to drugs that have not been FDA-approved,” said Tess Bettler, a representative from Compass Pathways, in written testimony to the House health committee. The bill would specifically legalize…
A House bill that would create a psilocybin exception for the state’s drug classifications passed its first reading today. The measure would only go into effect if the FDA approves synthetic psilocybin. The trigger bill, officially titled FDA-approved Crystalline Polymorph Psilocybin Use, was voted to move to a committee hearing 12-1. However, no one’s quite sure how far…
Compass will part ways with approximately 30% of its workforce, including some management positions… one year ago, the company expected to have data from the first phase 3 trial of its COMP360 psilocybin therapy in treatment-resistant depression by the summer of 2024. Compass CEO Kabir Nath framed that delay in the context of the FDA’s rejection of…
A resoundingly negative vote by an advisory committee to the Food and Drug Administration on Tuesday [6/5/24] – though not binding – has diminished the chances of the sponsor, Lykos Therapeutics, from winning full approval for MDMA to treat post-traumatic stress disorder, industry observers said. But biotech executives, investors and researchers said in interviews that…
They were the first company to take all of the practical knowledge and lived wisdom from philanthropically funded researchers, pivot to for profit, and meanwhile convince the leader of the most loved/popular mdma non-profit to do the same. Now we have COMPASS + Lykos… Compass Pathways plc (Nasdaq: CMPS) (“Compass”), a biotechnology company… announced that…
…from a financial perspective, the inconsistency of psychedelic experiences and the fact that they require hands-on psychological therapy make for a difficult investment pitch. Treatment is typically administered in a specialized facility under supervision by psychiatric professionals, which is costlier and harder to scale up than simply providing medicine. The industry’s market performance reflects such…
MAPS PBC [Public Benefit Corporation] and COMPASS Pathways collaborated to work with the AMA [American Medical Association] to create these new CPT III codes. These are temporary codes assigned to emerging technologies, services and procedures, to facilitate reimbursement and support access to psychedelic therapies in the United States, if such therapies receive regulatory approval by the…
[Compass Pathways; synthetic-psilocybin patenting British bio-tech company]… a securities purchase agreement with a select group of healthcare specialist investors for the private placement of… American Depositary Shares… Morgan Stanley and TD Cowen are acting as the placement agents for the private placement. The securities to be sold in the private placement, including the ADSs underlying…
Christian Angermayer (billionaire) owns an extensive art collection that includes ancient artifacts highlighting the role that psychedelics have played in human history… that is, the inventors’ definition controls, “even if it is contrary to the conventional meaning of the term” according to Christopher G. Paulraj, Tina E. Hulse, & Sheridan K. Snedden… the U.S. Patent…
The American Medical Association (AMA) is expected to issue the first code for psychedelic therapy reimbursement, following the approval of a joint application submitted by MAPS PBC [partnered with MAPS and Rick Doblin] and [Peter Theil & Christian Angermayer backed] COMPASS Pathways… On March 3 [2023], the AMA published its Panel Actions summary which included…
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