Financing to support Phase 2 clinical trial for Reunion’s lead asset RE104 in postpartum depression (PPD) and expansion into other psychiatric indications of high unmet need, including adjustment disorder in cancer (ADC)

San Francisco, 2 May 2024 - Novo Holdings, a leading life science investor, today announced it co-led a $103 Million Series A financing for Reunion Neurosciences, a clinical-stage biopharmaceutical company developing innovative therapeutic solutions for postpartum depression (PPD) and other underserved mental health conditions. MPM BioImpact co-led the investment with Novo Holdings, and Arkin Bio Ventures, Mitsui & Co. Global Investment, Plaisance Capital, FemHealth Ventures, and Palo Santo also participated in the financing.

Reunion Neurosciences is developing its proprietary, clinical-stage serotonergic psychedelic lead asset, RE104, designed as a safe, fast-acting, short duration therapy to provide lasting benefits to patients with underserved mental health conditions. Proceeds from the financing 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).

PPD is a form of major depression that is estimated to affect about 10-15% of all mothers of newborns. 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.

Greg Mayes, President and Chief Executive Officer of Reunion said “This financing is a significant milestone for Reunion Neuroscience, and we are grateful to have the backing of MPM BioImpact and Novo Holdings, as well as a syndicate composed of top-tier institutional healthcare investors. Their collective support reflects Reunion’s potential to meaningfully transform mental health treatment for the large population of patients underserved by the treatment paradigm available under the current standard of care. We are committed to unlocking the full potential of RE104 to improve the lives of patients and families in our mission to address the worldwide mental health crisis.”

Natalie Sacks, M.D., Venture Partner, Venture Investments, Novo Holdings commented “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 post-partum depression and other mental health conditions. We look forward to supporting the Reunion team as they bring innovative science to an area of high unmet need.”

Scott Beardsley, Managing Partner, Venture Investments, Novo Holdings added “This financing is a significant milestone for Novo Holdings, as it marks the first investment in both the psychedelic therapeutics space and the treatment of postpartum depression. By recognizing the potential of psychedelic medicine to address unmet medical needs in mental health, it underscores our commitment to advancing innovative solutions that have the potential to transform patient care and improve outcomes.”

About Reunion Neuroscience Inc.

Reunion Neuroscience is committed to pushing the boundaries of neuroscience to develop innovative therapeutic solutions for postpartum depression (PPD) and other underserved mental health conditions. In August of 2023, Reunion Neuroscience was acquired by MPM BioImpact, a world-leading biotechnology investment firm with three decades of experience creating and investing in innovative biotechnology companies seeking to deliver transformative therapies to patients. As part of the MPM BioImpact portfolio, the Company is evaluating its lead asset, RE104, a proprietary, potential best-in-class, serotonergic psychedelic compound and the only 4-OH-DiPT prodrug in clinical development, as a potential treatment for postpartum depression, (NCT06342310), that could provide rapid symptom relief and durable efficacy. Reunion is actively investigating the use of RE104 in additional neuropsychiatric indications where there remains a significant unmet need that is not addressed by the current standard of care.

For more information about the company, visit https://reunionneuro.com.

About Novo Holdings

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S and manages an investment portfolio, with a long-term return perspective. Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests directly in life science companies at all stages of development. In addition, it manages a broad portfolio of Capital Investments, including equities, bonds, fixed income, real estate, and infrastructure assets.

As of year-end 2023, Novo Holdings had total assets of EUR 149 billion.
www.novoholdings.dk