Psyched: Compass Joins Nasdaq, Field Trip Goes Public, MindMed Begins Trials, ATAI Launches MDMA Subsidiary

Compass Pathways Files for an IPO at NASDAQ

UK-based Compass Pathways wants to become the first psychedelics company to list on a major U.S. stock exchange.

The psilocybin research company intends to make its initial public offering (IPO) through NASDAQ under the ticker symbol CMPS.

With the filing, Compass expects to raise about $100 million that will be used to fund clinical trials for psilocybin-assisted therapy for treatment-resistant depression. The company is currently at phase 2 for a proprietary formulation of psilocybin called COMP360.

ATAI Life Sciences is Compass’ largest shareholder. Another early backer is PayPal co-founder and Facebook investor Peter Thiel, who owns a 7.54% share in the company.

MindMed to Begin Clinical Trials Combining LSD and MDMA

On Aug. 25, Mind Medicine Inc. (NEO: MMED)(OTCQB: MMEDF) announced the launch of a phase 1 clinical trial that will combine LSD and MDMA.

The trial will be executed in Switzerland, in accordance with the company’s research deal with University Hospital Basel’s Liechti Lab, and is scheduled to begin before the end of this year. The goal of the study is to assess whether MDMA can help reduce some of the unpleasant symptoms triggered by psychedelics like LSD and Psilocybin during psychedelics-assisted therapy, which can include negative thoughts, rumination, panic and paranoia.

Field Trip Launches New App, Announces RTO and $11M Series B Round

Mental wellness company Field Trip Psychedelics Inc. announced plans to go public in Canada via a reverse merger with Newton Energy Corporation (TSXV: NTN.H), a Canadian mining exploration company.

The transaction, by which Newton will purchase Field Trip and change its name to Field Trip Health Ltd., is expected to occur by Sep. 29.

The company, which has psychedelic treatment clinics in Toronto and New York, also announced closing the first tranche of a Series B financing round of CA$11 million ($8.38 million). Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc. led the effort.

Proceeds from the …

Full story available on Benzinga.com

More Psyched: Compass Joins Nasdaq, Field Trip Goes Public, MindMed Begins Trials, ATAI Launches MDMA Subsidiary