In this episode, Surani explores one of biotech’s most controversial and ambitious frontiers: psychedelic medicine.
At the center of the story is Compass Pathways, the London-based biotech attempting to bring synthetic psilocybin through the modern drug approval system for treatment-resistant depression. What began as a deeply personal mission for founders George and Katya Goldsmith has evolved into one of the most closely watched companies in mental health biotech, surviving both the psychedelic hype cycle and the broader biotech market crash.
Surani speaks with CEO Kabir Nath to explore Compass’s unusual financing journey, the rise of institutional interest from investors like Otsuka Pharmaceutical, and the company’s pivotal Phase II and Phase III studies that may ultimately lead to the first FDA-approved psychedelic medicine. She is also joined by renowned neuropsychopharmacologist Professor David Nutt from Imperial College London to unpack the science, investor skepticism, regulatory concerns and implementation complexities surrounding psychedelics.
Timestamps
00:01 — Introduction
02.00 — The Compass origin story: George and Katya Goldsmith, psilocybin, and building a biotech
07:00 — Early financing struggles, Peter Thiel, and why traditional biotech investors stayed away
08:30 — Otsuka, and the moment psychedelics entered the mainstream
11:00 — Compass IPOs into the biotech boom — then the market crashes
13:00 — The controversial Phase IIb results: remission rates, safety concerns, and investor backlash
21:00 — Kabir Nath joins Compass as CEO to launch the Phase III program
22:00 — Breaking down the Phase III data, durability questions, and FDA approval odds
26:00 — Lykos' FDA fiasco, psychotherapy, blinding debates, and the regulatory challenge for psychedelics
31:00 — Real-world rollout: J&Js Spravato, scalability, pricing, reimbursement, and Compass’s future vision
Founders' Story:
Business Insider Article: https://www.businessinsider.com/inside-compass-pathways-psychedelic-psilocybin-origin-story-2023-2
After On podcast: https://podcasts.apple.com/nz/podcast/depression-the-psychedelic-cure-katya-malievskaia/id1265002699?i=1000411555149
For any comments, questions or feedback you can connect directly with Surani Fernando on LinkedIn or email: raisingbiotech@gmail.com
Title music composed by: Yrii Semchyshyn (Coma Media)