Reunion Neuroscience Appoints Dr. Fred Grossman to Board of Directors

Rhea-AI Summary

Reunion Neuroscience Inc. (NASDAQ: REUN, TSX: REUN) has announced the appointment of Dr. Fred Grossman to its Board of Directors. Dr. Grossman, a seasoned psychiatrist with over twenty years of experience, has held leadership roles in various pharmaceutical companies including Eli Lilly and Johnson & Johnson. He brings extensive expertise in the drug lifecycle management, particularly in psychiatric medication development. This strategic move aims to advance the clinical pipeline, especially the lead asset RE104, a novel compound targeting mental health conditions such as postpartum depression. The appointment reflects Reunion's commitment to developing innovative treatments in psychiatric care.

Positive

• Appointment of Dr. Fred Grossman, a seasoned psychiatrist, enhances the Board's expertise.
• Dr. Grossman's extensive experience in drug lifecycle and psychiatric medications supports Reunion's clinical advancement.
• Focus on advancing RE104, a proprietary treatment for postpartum depression, signaling ongoing commitment to mental health innovation.

Negative

• Concerns about continuity and experience gaps in leadership following the appointment of a new board member.

- Seasoned Psychiatrist and Global Pharmaceutical R&D Executive with Over Two Decades of Experience in Clinical Development, Including at Eli Lilly, Johnson & Johnson, Bristol Myers Squibb and Sunovion Pharmaceuticals

TORONTO, April 03, 2023 (GLOBE NEWSWIRE) -- Reunion Neuroscience Inc. (NASDAQ: REUN, TSX: REUN) (“Reunion” or “the Company”), a clinical-stage biopharmaceutical company committed to developing innovative and patented therapeutic solutions for underserved mental health conditions, announced today that it has appointed psychiatrist Fred Grossman, D.O., FAPA, to its Board of Directors. Dr. Grossman has over two decades of experience in clinical development and medical affairs, pharmacovigilance and health outcomes across a variety of products, including biologics and small molecules.

“From Fortune 500s to early-stage pharmaceutical companies, Dr. Grossman has demonstrated the distinct ability to manage the entire drug lifecycle, including approval of numerous psychiatric medications — from initial research and discovery to preclinical IND enabling studies, early- and late-phase clinical development and postmarketing evidence generation,” said Greg Mayes, Reunion President and CEO. “As we continue to progress RE104 through the clinic, his expertise on our Board will be instrumental in rapidly advancing novel treatment options for underserved mental health conditions.”

Dr. Grossman previously served as the Chief Medical Officer at Empyrean Neuroscience, Mesoblast Limited and NeuroRx Pharma and has held senior executive leadership positions at Glenmark Pharmaceuticals, Sunovion Pharmaceuticals, Bristol Myers Squibb, Johnson & Johnson and Eli Lilly.

“Reunion is developing proprietary novel drug candidates designed to target specific serotonergic receptors in the brain for the potential treatment of serious mental health conditions,” added Dr. Grossman. “I see great potential in these assets and look forward to working with the Board to support the executive team as they advance the pipeline products into the clinic towards eventual approval.”

Dr. Grossman is a Board-Certified Psychiatrist and Fellow of the American Psychiatric Association. He has authored numerous scientific publications and has held academic appointments at several universities. He completed his residency in psychiatry at Hahnemann University and a pharmacology fellowship at the National Institutes of Health (NIH).

About Reunion Neuroscience Inc.
Reunion is committed to developing innovative therapeutic solutions for underserved mental health conditions. The Company’s lead asset, RE104, a proprietary, novel, serotonergic psychedelic compound and the only 4-OH-DiPT prodrug in clinical development, is being developed as a potential treatment for postpartum depression that could provide rapid symptom relief and durable efficacy. RE104 is protected under U.S. Patent No. 11,292,765 issued on April 5, 2022 (priority June 30, 2020), with claims for composition of matter, methods of manufacturing, formulations and methods of use for a genus of hemi-ester tryptamines, including RE104, which could provide protection out to June 30, 2041. Reunion is also developing the RE200 series, which includes preclinical compounds with enhanced receptor selectivity to address additional therapeutic applications.

Learn more at https://www.reunionneuro.com, and follow us on LinkedIn and Twitter.

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Cautionary Note Regarding Forward-Looking Information

This release includes forward-looking information (within the meaning of Canadian securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995) regarding Reunion and its business. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipates”, “plans”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “should” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of Reunion and are based on assumptions and subject to risks and uncertainties, many of which are beyond Reunion’s control. Although the management of Reunion believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including the funds available to Reunion and the use of such funds, the timing, completion and potential outcome of testing and research on Reunion’s drug trial candidates, RE104 and the RE200 Series, including the ability to recruit patients, to retain and identify clinical partners, and to optimize dosage amounts, the likelihood and ability of Reunion to complete an investigational new drug application and obtain regulatory approvals, as required, prior to initiating further clinical trials for RE104 and molecules within the RE200 Series, the ability of Reunion to meet eligibility requirements for clinical testing and through to more complex clinical trials, the ability of Reunion to protect and expand its intellectual property portfolio, the performance of Reunion’s affiliate, Field Trip Health & Wellness Ltd., the ability of Reunion to produce and supply its drug trial candidates, market conditions, economic factors, management’s ability to manage and to operate the business, the equity markets generally and this and other Risk Factors disclosed in Reunion’s public filings available on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC’s website at www.sec.gov. Although Reunion has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made (or such earlier date, if identified) and Reunion does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Additional information relating to Reunion, including its Annual Information Form and Risk Factors, can be located on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC’s website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.

Neither the Toronto Stock Exchange, nor its Regulation Services Provider, have approved the contents of this release or accept responsibility for the adequacy or accuracy of this release.

Reunion Neuroscience:
Greg Mayes
President & CEO
(215) 696-9659
gmayes@reunionneuro.com

Investor Relations Contact:
Irina Koffler
LifeSci Advisors
646-970-4681
ikoffler@lifesciadvisors.com

Media Contact:         
Shana Marino 
KCSA Strategic Communications
(347) 487-6189
reunion@kcsa.com

FAQ

What is the significance of Dr. Fred Grossman's appointment to Reunion Neuroscience's Board?

Dr. Grossman's appointment is significant as he brings over two decades of relevant experience in clinical development, particularly in psychiatric medications, which can enhance Reunion's strategic direction and clinical pipeline.

How does Dr. Grossman’s experience impact Reunion Neuroscience's drug development?

His background in managing the entire drug lifecycle, from research to post-marketing, is expected to facilitate faster progression of Reunion's lead asset, RE104, through clinical trials.

What are Reunion Neuroscience's plans for the drug RE104?

Reunion Neuroscience plans to advance RE104 as a potential treatment for postpartum depression, aiming to provide rapid symptom relief and durable efficacy.

What potential challenges could Reunion face with the new board appointment?

The company may face challenges regarding continuity and experience gaps in leadership, as integrating a new board member can take time and adjustment.