Clinical stage biopharmaceutical company seeking to transform treatment of mental disorders Atai Life Sciences NV (NASDAQ: ATAI) announced that it has increased its stake in COMPASS Pathways Plc. (NASDAQ: CMPS) from 19.4% to 20.8%.
With this increased ownership, Atai Life Sciences still continues to be the largest shareholder in COMPASS Pathways.
This increase in ownership shows that without a doubt, Atai Life Sciences is confidence with COMPASS Pathways and its ongoing mental health care program dubbed COMP360 which recently published data which was very remarkable in treatment of treatment-resistant depression (TRD).
Co-founder and chief executive officer of Atai Life Sciences, Florian Brand, explains how they’ve always thrown their support behind COMPASS Pathways even during the initial days of the company. The CEO claims this latest move signifies the confidence they have in psilocybin-assisted psychotherapy by COMPASS.
“We’ve supported COMPASS Pathways since the early days, when they were our very first psychedelic initiative, as part of our quest for more effective solutions for mental health patients. We believe this month’s Phase 2b data was a true milestone for innovation in mental health and COMP360 shows strong potential as a future treatment for patients with TRD. This further confirms our belief in COMPASS’ psilocybin-assisted psychotherapy as a valued part of our diversified approach to develop novel solutions for patients with unmet needs in mental health,” said the CEO.