The basics:
- Compass Pathways relocates US base from NYC to Jersey City
- Biotech firm opens 6,327-square-foot office at 30 Montgomery
- COMP360 could launch in 2027 pending FDA approval
- More than 60 of Compass’ 175 employees based in the NJ-NY-PA region
A London-headquartered biotech firm focused on developing psychedelic-based treatments for mental health conditions relocated its U.S. base from New York City to New Jersey.
Now located in Jersey City, as of Oct. 5, Compass Pathways said its new 6,327-square-foot space will bring together teams across functions as the company prepares for the potential launch of its lead treatment.
Known as COMP360, the therapy is a proprietary, investigational synthetic psilocybin treatment under evaluation for treatment-resistant depression and post-traumatic stress disorder.
As a potentially first-in-class treatment, COMP360 has a Breakthrough Therapy Designation from the U.S. Food and Drug Administration. It also has Innovative Licensing and Access Pathway (ILAP) designation in the U.K. for treatment resistant depression.
Pending FDA approval, COMP360 is expected to launch in the first half of 2027, Compass said.
Of the company’s 175 employees, more than 60 are based in either New Jersey, New York or Pennsylvania. Compass noted that most of its employees live in the Garden State.
New neighborhood
Founded a decade ago in London by George Goldsmith and Ekaterina Malievskaia, Compass was born out of the belief that people with difficult-to-treat mental health conditions needed better options.
Compass said it selected Jersey City because of the proximity to the region’s life sciences and healthcare ecosystems, access to talent and growing role in biotech.
Compass occupies space at 30 Montgomery, a waterfront office tower in the Exchange Place district. Fellow tenants at the Real Capital Solutions and Lamar Cos.-owned property include Bluevine Capital, Wayste and Asset Based Lending. Ground floor retailers include CAVA, &pizza and Chipotle Mexican Grill.
Previously, Compass had a presence in Midtown Manhattan since 2021. It maintains a site in San Francisco, according to its website.
‘Proud to call Jersey City home’
During the Oct. 5 ribbon-cutting ceremony, local officials including U.S. Rep. Rob Menendez Jr., D-5th District; Jersey City Mayor James Solomon; and Hudson County Executive Craig Guy joined Compass to celebrate.
Company CEO Kabir Nath said, “Today is about more than an office – it is about the Compass colleagues who will fill this space with purpose and the people living with serious mental health conditions who are at the heart of our work.”
A former executive at Otsuka Pharmaceutical Cos. in Princeton and Bristol Myers Squibb in Lawrenceville, Nath said, “I’ve spent a significant part of my career in New Jersey, and I’ve seen firsthand the strength of the life sciences community here.
“Compass is proud to call Jersey City home as we advance into our next phase of growth and continue working to bring better options to people who are still suffering.”
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