Reunion Neuroscience Secures $103 Million for Development of Psychedelic Drug Therapy

LOS ANGELES- Reunion Neuroscience Inc., a developer of psychedelic drug treatments, has successfully raised $103 million in a Series A financing round. The round was co-led by MPM BioImpact and Novo Holdings, with additional participation from various healthcare investment firms including Arkin Bio Capital and Mitsui & Co. Global Investment. This funding marks a pivotal step for Reunion, which was initially spun out from Field Trip Health, a network of ketamine clinics.

The capital will primarily fuel the advancement of RE104, Reunion’s leading drug candidate. RE104 is designed as a fast-acting, short-duration therapy aimed at treating mental health conditions. Distinct from traditional psychedelic therapies that can last up to eight hours, RE104 offers a more manageable three to four-hour treatment duration. This feature is particularly advantageous for clinical settings, reducing the time patients need to spend in-care.

Furthermore, the funding will support the ongoing “RECONNECT” Phase 2 clinical trial of RE104, focusing on its efficacy in treating postpartum depression (PPD) and potential applications in other psychiatric conditions such as adjustment disorder in cancer patients (ADC). The trial results are anticipated in the second quarter of 2025.

Greg Mayes, President and CEO of Reunion, expressed gratitude for the support from leading healthcare investors, highlighting their commitment to transforming mental health treatment. The company aims to address the needs of a large patient population that current treatments do not adequately serve.

RE104 functions by targeting the serotonin 2A receptor (5HT2AR), a key receptor involved in the antidepressant effects of psychedelic compounds. The treatment requires significantly less in-clinic time compared to longer-duration psychedelics, making it a more practical option for both patients and healthcare providers.

Reunion is set to commence patient enrollment for the RECONNECT Trial this quarter. The trial is a Phase 2, Multicenter, Randomized, Double-Blind, Parallel-Group, Active Dose-Controlled study, aimed at evaluating the effectiveness of RE104 in patients with moderate to severe postpartum depression.

The investment community, including Dr. Ansbert Gadicke of MPM BioImpact and Dr. Natalie Sacks of Novo Holdings, has shown strong support for Reunion’s approach, recognizing RE104’s potential to redefine treatment paradigms in severe mental health disorders and improve patient outcomes significantly.