Reunion Neuroscience | Reunion Neuroscience Inc. Announces $103 Million Series A Financing Co-Led by MPM BioImpact and Novo Holdings
Summary
Announces $103 Million Series A Financing Co-Led by MPM BioImpact and Novo HoldingsCompany is advancing RE104, its proprietary, clinical-stage serotonergic psychedelic drug candidate designed as a safe, fast-acting, short duration therapy to provide lasting benefits to patients with underserved mental health disordersFinancing will support the RECONNECT Phase 2 clinical trial for RE104 in postpartum depression (PPD) and expansion into other psychiatric indications of high unmet need, including adjustment disorder in cancer (ADC)MORRISTOWN, New Jersey, May 2, 2024 Reunion Neuroscience Inc., a clinical-stage biopharmaceutical company committed to pushing the boundaries of neuroscience, today announced the close of a $103 million Series A financing co-led by MPM BioImpact and Novo Holdings, with participation from Arkin Bio Capital, Mitsui & Co. We are proud to back Reunions world-class team of experienced neuroscience drug developers and support the clinical advancement of RE104, which has the potential to provide patients with meaningful and durable antidepressive effects.We see a significant opportunity for RE104 to become a best-in-class therapy and are deeply encouraged by its potential to improve outcomes for patients facing limited treatment alternatives in postpartum depression and other mental health disorders, said Natalie Sacks, M.D., Venture Partner in the Venture Investments group at Novo Holdings US. We look forward to supporting the Reunion team as they bring innovative science to an area of high unmet need.The Companys lead asset, RE104, is a proprietary, potential best-in-class, patented prodrug of 4-OH-DiPT. Women suffering from PPD often experience significant changes in mood, appetite and sleep contributing to feelings of hopelessness, lack of concentration, loss of energy, poor self-esteem and maternal disinterest. While there have been recent developments in treatment options for PPD, there continues to be a significant unmet need for a solution that offers improved safety and tolerability, a faster onset of action, greater efficacy after only a single dose, with limited interruption in breastfeeding and a faster return to normal daily activities.Reunion is actively investigating the use of RE104 in additional neuropsychiatric indications, including adjustment disorder in cancer (ADC), where there remains a significant unmet need that is not addressed by the current standard of care.