Mary-Rose Hughes will continue to serve as Compass’s interim CFO until Loxam assumes the full-time role in March.
Compass Pathways recently announced that it has appointed Teri Loxam as chief financial officer, effective the beginning of March 2024.
Loxam will be based in the company’s New York City office. She will serve as an advisor during the period leading up to her appointment as CFO.
“Loxam brings to Compass deep and extensive strategic experience working for publicly traded companies, in the pharmaceutical and biotechnology sectors and beyond,” Compass said in a news release.
Loxam joins the company from Gameto, where she was CFO and played a pivotal role in negotiating multiple licensing agreements and helping to develop the regulatory and commercial strategy for Gameto’s lead product.
Loxam previously served as CFO and chief operating officer of Kira Pharmaceuticals, where she advanced Kira’s lead asset into Phase 2 and grew the company’s pipeline. As CFO of SQZ Biotech, Loxam led the company to a successful IPO and raised more than $200 million in her first 18 months in her role, Compass noted.
Earlier in her career, she held senior-leadership positions in investor relations and global communications at Merck and Bristol Myers Squibb, and served as vice president of investor relations at IMAX.
Loxam also serves as a member of the boards of directors and audit chair of Vaxcyte Inc. and Cardiol Therapeutics.
“Teri’s extensive success in leading biotech companies and her broad experience through all stages of development from research to commercialization is precisely the expertise and leadership that Compass requires as we progress our Phase 3 program in treatment-resistant depression,” said Kabir Nath, CEO of Compass Pathways. “She is a strong addition to our experienced executive leadership team and is fully committed to our mission to bring transformative treatments to patients who need better options. We welcome her to our passionate and dedicated team.”
Mary-Rose Hughes will continue to serve as Compass’s interim CFO until Loxam assumes the full-time role in March.
“It’s a privilege to join Compass at such a pivotal time, bringing my expertise to an organization at the forefront of mental health innovation,” Loxam said in a news release. “With Compass’s robust financial foundation, supported by a strong balance sheet and the backing of leading biotech investors, the company is well positioned for success. I look forward to helping the company continue its journey and execute its strategy, as I share Compass’s passion and determination to improve mental health care for the millions of people who urgently need better options.”