The MOU relates to collaboration between the three parties on a multi-year partnership that reflects their commitment to delivering innovation in mental health care. The collaboration will likely include research on COMP 360 psilocybin therapy and other novel therapies developed by COMPASS.
“We believe this collaboration could accelerate much-needed research that will translate into evidence-based and direct patient care for people who use our services. This is a really exciting prospect and has the potential to change people’s lives for the better,” stated David Bradley, Chief Executive of South London and Maudsley NHS Foundation Trust.
The collaboration will help them establish real-world data and build “state-of-the-art” facilities that they believe will model what the “mental health care clinic of the future” will look like. As Taylor Gavinchuk noted yesterday, having an established ground presence in the way COMPASS does is a key to success in the psychedelic industry at the moment.
COMPASS has previously partnered with Imperial College, so they now have established relationships with two of the largest universities in London. These relationships can bring important value for the research and development of psychedelic treatments.
“We have been in partnership with SLaM at the Maudsley Biomedical Research Centre since 2007, and with COMPASS on COMP360 psilocybin therapy research since 2018. By combining our strengths in biomedical research, clinical trials, clinical care, translational science, training, and digital innovation, we can create a world-class centre of excellence in mental health,” noted Professor Allan Young, Head of Academic Psychiatry at King’s IoPPN.
To really understand why a partnership with SLaM, an NHS Trust, is important, you need to understand the difference between the British healthcare system and ours here in North America. Now, everyone knows the American healthcare is basically the wild west, with the government doing more to shovel money into the system than to actually control it, so a company getting a partnership with an American hospital board is good for them, but doesn’t mean much.
Here in Canada, people will often say we have “public healthcare” but that’s not necessarily true, it’s more accurate to say we have a publicly funded health insurance system. They decide what they will and won’t pay for, but it’s a slightly more hands-off approach.
The National Health Service (NHS) in Britain is different. It really is a public healthcare system, and NHS trusts are public sector bodies established by parliamentary order who are accountable to the secretary of state. An NHS Trust endorsing psychedelic therapies is actually a pretty big deal, as they are only a few degrees of separation from the actual government.
“So many of us know people who are suffering with mental health issues, but are not helped by existing treatments. We are dedicated to providing new ways of caring for people on their journey to mental wellbeing – but we cannot do this alone. This partnership would help to amplify our combined efforts so we can bring evidence-based innovation, on a large scale, to people in the UK,” stated George Goldsmith, CEO and Co‑founder of COMPASS Pathways.
Since the announcement, COMPASS shares are down 56 cents and are currently trading at $36.71.