Bronner's Magic Soaps, during the passing of Measure 109 in Oregon, which made psilocybin mushrooms legal for therapeutic use in the state. In 2020, Compass faced criticism over its position that psilocybin therapy should only be approved by medical regulators such as the FDA, not by legislators - a position meant to support and protect the company's methods, which it hopes will be adopted as the key regulatory framework for the legalization of psilocybin therapy.Ĭompass came under fire by the likes of psychedelic advocate David Bronner, the "Cosmic Engagement Officer" of Dr. While forging ahead with notable clinical studies, Compass Pathways is not without controversy.
The study showed that at least twice the number of patients in the 25mg group showed response and remission at week 3 and week 12, compared with the 1mg group.
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The objective of the trial was to find the appropriate effective dose for a larger phase III trial expected for 2022. It included 233 patients from 10 countries in North America and Europe, 94 percent of whom had no prior experience with psilocybin. Results were from the largest randomized, controlled, double-blind psilocybin therapy study ever conducted. The move by Atai follows a recent announcement from Compass that its psilocybin treatment called COMP360 demonstrated a “statistically significant and clinically relevant reduction in depressive symptom severity after three weeks.” Research into psychedelic therapies is an expanding field that seeks to offer alternative treatments, for instance, to the more than 50 percent of patients receiving therapy for major depressive disorder (MDD) who do not respond to approved depression medications. “I don’t want to say they don’t work at all because some people are helped by them, but they’re not sufficient.” “The current treatments which are out there are definitely not sufficient,” Angermayer said. In recent days, Atai Life Sciences (Compass’ biggest shareholder) increased its ownership in Compass Pathways buying another 619,095 shares, taking its stake in the company from 19.4 to 20.8 percent.Ĭhristian Angermayer, founder and chairman of Atai, explained to CNBC why the company has an interest in backing research into Compass’ psilocybin therapy to treat depression. Biopharmaceutical conglomerate ATAI Life Sciences (NASDAQ: ATAI), a Peter Thiel-backed psychedelic startup that currently has 10 psychedelic programs in the works, has upped its stake in Compass Pathways (NASDAQ: CMPS), a drug developer looking to accelerate patient access to psilocybin therapy for treatment-resistant depression.