Foley & Lardner LLP represented TCGX as a lead investor in the $285 million financing for COMPASS Pathways, a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. TCGX led the round with Aisling Capital. They were joined by additional investors Vivo Capital, RA Capital, Surveyor Capital (a Citadel company), Paradigm BioCapital Advisors LP, Soleus Capital, Armistice Capital, Logos Capital, PFM Health Sciences, and Laurion Capital Management, among others.
COMPASS Pathways plc (Nasdaq: CMPS) is a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. They are pioneering the development of a new model of psilocybin therapy, in which their 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).
The funding will be used to advance their pivotal phase 3 program in TRD and achieve important milestones in the development of COMP360.
The Foley team was led by partner Louis Lehot and included partner Clyde Tinnen and associate Ethan Floyd.
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