COMPASS Pathways plc (NASDAQ: CMPS) announced that it has appointed Kabir Nath as Chief Executive Officer, effective August 1, 2022. George Goldsmith, COMPASS’ current CEO and Chairman, will serve as the company’s Executive Chairman from August 1st to December this year to help facilitate the transition and will remain as Chairman after that.
Kabir Nath is a true vet of the health care industry. He was recently the Senior Managing Director of global pharmaceuticals at Otsuka Pharmaceutical Col Ltd, he previously worked as President and CEO of Otsuka’s North American Pharmaceutical Business – where he spearheaded the development of pharmaceutical products and digital solutions for mental health needs. He also spent time at Bristol Myers Squibb.
George Goldsmith commented on Kabir Nath’s move:
“We founded COMPASS Pathways to transform mental health care by creating a personalized, predictive and preventative model of care. As we enter the next stage of development, Kabir brings a track record of successful strategic growth and a deep dedication to this mission. Working alongside our talented leadership team, he will leverage his extensive background in leading the commercialization of innovative therapies to bring COMP360 psilocybin therapy to the large number of patients who are not currently being helped by existing treatments.”
If you’ve been following us (and I’m sure you have), you’ll already know that Otsuka is a pharmaceutical giant based out of Japan. They have placed a significant investment in Mindset Pharma and have a collaboration/licensing agreement with Perception Neurosciences (an ATAI company). There are good reasons why they’re rolling with these two companies.
We believe that big pharmaceutical companies with the relative market cap and resources of Otsuka will continue to initiate investments in the psychedelic space, before the gigantic pharmaceutical companies place their bets. Otsuka, are effectively managing risk of entering the psychedelics market – a sub-vertical of the biotech industry in a few ways:
- aligning themselves with innovative companies with strong IP
- gaining access to a library of potential drug candidates.
- supporting drug development via access to expertise and resources
- supporting commercialization via approvals and licensing
We’ll continue to watch these developments as like it or not, investment from Big Pharma is key to the path of commercialization for psychedelic drugs.
Mindset Pharma is a market awareness client of Capital 10X.
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