TORONTO, Sept. 28, 2022 (GLOBE NEWSWIRE) — Reunion Neuroscience Inc. (TSX: REUN, NASDAQ: REUN) (“Reunion” or the “Company”), a leader in novel psychedelic drug development committed to innovating therapeutic solutions for mental health conditions by developing proprietary serotonin receptor agonist compounds, announced the appointment of Greg Mayes as President and Chief Executive Officer.
As Reunion’s new President and CEO, Mr. Mayes’ initial focus will be on the successful completion of the Company’s Phase 1 clinical trial with its lead asset, RE-104, a novel serotonergic psychedelic, which commenced in August 2022, and the planned launch of its Phase 2 study in postpartum depression, which is expected to commence in 2023. Mr. Mayes will also drive and accelerate Reunion’s preclinical RE-200 research, which is focused on the discovery of selective and specific serotonergic psychedelics.
Prior to joining Reunion, Mr. Mayes served in multiple C-Suite leadership roles at early-stage biotech and pharmaceutical companies, where he was integral in raising nearly half a billion dollars in investment capital and overseeing the successful completion of multiple early-phase FDA trials. As President and CEO of Antios Therapeutics, a clinical-stage biopharmaceutical company, Mayes led a $100+ million Series B financing with top healthcare investors in 2021. Prior to Antios, and inspired by his son’s epilepsy diagnosis, Mr. Mayes founded Engage Therapeutics, where he successfully raised $40 million in a Series A financing round led by TPG. He served as the Engage Therapeutics President and CEO from 2017 until 2020 when the company was acquired by UCB Pharma for $270 million, following a positive, randomized Phase 2b clinical trial evaluating its lead product candidate, a REST (Rapid Epileptic Seizure Termination) treatment.
Additionally, prior to founding Engage Therapeutics, Mr. Mayes played an integral role in the growth of Advaxis Immunotherapies (ADXS), a biotech company developing immuno-oncology therapies for patients with hard-to-treat cancers through its bacterial vector system. As Chief Operating Officer, he was instrumental in helping to secure more than $200 million in funding and in identifying and negotiating major pharmaceutical partnerships.
“Reunion is on the cusp of clinical breakthroughs and the Company needs leadership with experience in raising the capital we will need to get through the coming FDA trial process. With decades of experience in drug development, Greg brings an extensive wealth of knowledge and expertise at a pivotal time for Reunion,” said Joseph del Moral, Reunion’s Chairman. “As we complete our Phase 1 study with RE-104, Greg will help guide the Company to establish studies in postpartum and treatment-resistant depression. I am thrilled to welcome Greg and look forward to supporting him and Reunion as Chairman.”
“Depression is one of the largest drivers of the global burden of disease, impacting over 300 million people who have few effective treatment options. The work we are doing at Reunion holds the promise to create treatments for millions of people with the potential to generate billions in revenue,” added Mr. Mayes. “My goal as President and CEO of Reunion is to lead a company that will boldly disrupt the mental health sector with differentiated serotonergic psychedelic therapies.”
It is anticipated that Mr. Mayes will be appointed to the Reunion Board of Directors to replace Ronan Levy, Reunion co-founder and current Chairman and CEO of Field Trip Health & Wellness Ltd., who will step down from Reunion’s Board in October 2022.
About Reunion Neuroscience Inc., (formerly, Field Trip Health Ltd.)
Reunion is a leader in novel psychedelic drug development, committed to innovating therapeutic solutions for mental health conditions by developing proprietary serotonin receptor agonist compounds. The Company’s lead asset, RE-104 (previously known as FT-104), is a proprietary, novel psychedelic drug being developed for post-partum and treatment resistant depression as a potential fast-acting antidepressant with durable efficacy. Reunion is also developing the FT-200 series, which includes compounds with potential for more selective serotonin receptor activity with reduced psychoactivity for potential use in more chronic treatment paradigms and indications.
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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 the Company and its business. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” 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 the Company and are based on assumptions and subject to risks and uncertainties. Although the management of 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. Although the Company 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 and the Company 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 Field Trip, including its Annual Information Form, 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.
Neither Toronto Stock Exchange, or its Regulation Services Provider, have approved the contents of this release or accept responsibility for the adequacy or accuracy of this release.
KCSA Strategic Communications
Phil Carlson / Sophia Bashford
KCSA Strategic Communications
(646) 573-0776 / (929) 246-7307