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Biotechnology company Compass Pathways plc (NASDAQ:CMPS) and Greenbrook TMS Inc (NASDAQ:GBNH) have entered into a three-year research collaboration agreement to explore delivery models for investigational COMP360 psilocybin treatment.
The parties will research and investigate models for the delivery of scalable, commercial COMP360 within healthcare systems, assuming FDA approval.
The initial phase will involve research into the delivery of COMP360 at treatment centers across the U.S. that are working with people suffering with treatment-resistant depression (TRD) and other mental health conditions.
COMP360 has been designated a "Breakthrough Therapy" by the FDA for TRD.
Compass has initiated a phase 3 clinical program of COMP360 in TRD and intends to apply for FDA approval upon completion of clinical trials.
"Whilst we urgently need more innovative medicines in mental health care, it is just as essential to deliver them at pace to people in greatest need," said Compass Pathways CEO Kabir Nath.
Price Action: CMPS shares are trading lower by 5.52% at $9.08 on the last check Friday.
