News brief­ing: Com­pa­ny de­vel­op­ing 'mag­ic mush­room' treat­ment hits Nas­daq; Spring­Works en­ters spon­sored re­search agree­ment with Fred Hutch

Com­pass Path­ways seeks to raise $127.5 mil­lion in an up­sized IPO, by of­fer­ing 7,500,000 shares priced at $17 apiece. The Lon­don-based com­pa­ny had ini­tial­ly filed for a $100 mil­lion IPO, ac­cord­ing to its F-1 fil­ing.

The com­pa­ny is re­search­ing psilo­cy­bin ther­a­py, which com­bines psilo­cy­bin — a psy­choac­tive in­gre­di­ent found in some species of “mag­ic mush­rooms” — with psy­cho­log­i­cal sup­port to treat men­tal ill­ness­es such as de­pres­sion, anx­i­ety and ad­dic­tion. It plans on us­ing IPO mon­ey to fund re­search and clin­i­cal de­vel­op­ment of its COMP360 psilo­cy­bin ther­a­py.

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