Otsuka Pharmaceuticals's McQuade Center for Strategic Research and Development backed the psilocybin-based mental health drug developer through the round.

UK-based depression medicine developer Compass Pathways closed an $80m series B round yesterday backed by McQuade Center for Strategic Research and Development, part of pharmaceuticals group Otsuka.

The round also featured biotech company builder Atai Life Sciences as well as Founders Fund, Able Partners, Camden Partners Nexus, Perceptive Advisors, Skyviews Life Science and Soleus Capital.

Founded in 2016, Compass is working on therapeutics to treat mental health conditions for patients who have found existing treatments ineffective.

The company’s lead drug…

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