Reunion Neuroscience Gets a New Lease of Life with $103M Series A to Fund Phase 2 Studies of 4-HO-DiPT Prodrug

Reunion Neuroscience, a New Jersey biotech that spun out from the ill-fated ketamine clinic chain Field Trip Health two years ago, has announced a $103m Series A financing co-led by MPM BioImpact and Novo Holdings, with participation from Arkin Bio Capital, Mitsui & Co. Global Investment, Plaisance Capital, FemHealth Ventures, and Palo Santo.

The lofty Series A is reminiscent of similarly large private rounds from the 2021 era, such as GH Research’s $125m Series B and atai Life Sciences’ $157m Series D. Its timing will be particularly welcomed by psychedelic biotechs given the relative lack of such substantial rounds in recent years—only Lykos Therapeutics’ $100m+ Series A in January matches the magnitude of late. (See MAPS PBC Closes $100m Series A, Rebrands to Lykos Therapeutics.)

The company hopes to advance its lead candidate, a prodrug of 4-HO-DiPT (RE104), in a suite of indications; starting with postpartum depression (PPD).

The round might signal a new era for the company, which appeared to have become mired in a patent-related dispute and a challenging financial situation...