Reset Pharmaceuticals Enters into Exclusive Worldwide License Agreement with NYU Langone Health for Intellectual Property and Data on Psilocybin and Related Psychedelics for the Treatment of Mental Illness in Patients with Life-Threatening Diseases, Including Cancer

Reset Pharmaceuticals Enters into Exclusive Worldwide License Agreement with NYU Langone Health for Intellectual Property and Data on Psilocybin and Related Psychedelics for the Treatment of Mental Illness in Patients with Life-Threatening Diseases, Including Cancer

Transaction accelerates Reset Pharmaceuticals’ lead psilocybin program, targeting severe demoralization, as well as anxiety, and depression, in cancer patients

Stephen Ross, MD, a leading expert in psychedelics, named chair of Reset Pharmaceuticals’ Scientific Advisory Board

NEW YORK, July 07, 2021 (GLOBE NEWSWIRE) — Reset Pharmaceuticals, Inc. (Reset Pharma) a privately-held biotechnology company focused on developing and commercializing psilocybin and innovative psychedelic therapies for severe demoralization in patients with life-threatening cancer, today announced it has acquired an exclusive license from NYU Langone Health for intellectual property (IP) associated with the use of psilocybin and related psychedelics for the treatment of mental illness in patients with life-threatening diseases, including cancer.

This agreement is based on the seminal work of Stephen Ross, M.D., a world leader in advancing research on psychedelic medicine and a prominent addiction psychiatrist. Dr. Ross is an Associate Professor of Psychiatry at NYU Langone, and the Associate Director of its newly designated Center for Psychedelic Medicine. Dr. Ross’ research principally focuses on the use of psilocybin and related psychedelics for the treatment of mood disorders in patients with life-threatening cancer. In randomized, controlled trials, administration of psilocybin, in association with well-defined psychotherapy, produced rapid, clinically relevant and long-lasting improvements in cancer-related demoralization, anxiety, and depression.1 2

Reset Pharma obtained exclusive global rights to develop and commercialize the intellectual property, and NYU Langone will receive milestone and royalty compensation. As part of the collaboration, the parties will continue to explore the role of psychedelics in the treatment of mental illness in other life-threatening disorders, in addition to cancer.

“This licensing agreement should accelerate the development of psilocybin for cancer-related severe demoralization, which is particularly urgent as these patients have a significantly increased risk of suicidal ideation. Millions of patients currently have limited – and largely ineffective – treatments, such as traditional anti-depressants, which are often no more effective than placebo,” commented Jan-Anders Karlsson, Ph.D., Reset Pharma’s Co-Founder and CEO. “Importantly, we believe that psilocybin is a promising treatment for anxiety and depression in patients with life-threatening cancer, increasing therapeutic opportunities. We are very pleased to enter this long-term collaboration with Dr. Ross and NYU Langone Health to bring important new medicines to patients with mental illnesses that today have few, if any, effective treatment options.”

“I regularly meet patients who become demoralized from learning that they have a life-threatening cancer. These patients need immediate help, especially when considering that they are at an elevated risk for suicide. However, there are few, if any, effective therapies for them,” added Dr. Ross. “I look forward to working with the Reset Pharma team to further support their development of these compounds that showed such promising therapeutic effects in cancer patients.”

Up to 40% of all cancer patients in the U.S., or almost seven million cancer patients, may be diagnosed with mood disorder. An estimated 20% of all patients with life-threatening cancer have clinically relevant demoralization that often occur independent of other mood disorders. These patients appear to have worse anxiety, pain, fatigue, and functioning than do other patients with cancer. They are also more likely to have suicidal thoughts, and to have more difficulties with adherence to cancer therapy, and they lack effective treatment options.3 4 5

About Reset Pharmaceuticals Inc.

Reset Pharma is a privately-held biotechnology company developing and commercializing novel psychedelic treatments for patients with life-threatening illnesses, including cancer. The company’s lead program initially focuses on developing psilocybin to treat severe demoralization in patients with life-threatening cancer. These patients have clinically relevant levels of demoralization with a perceived lack of control, hopelessness and helplessness and an increased risk of suicide. Some of these patients also have anxiety and depression. While the primary focus is the development of psilocybin for demoralization, as there are currently no effective treatments for this disorder, psilocybin also shows promise as a treatment of anxiety and depression in cancer patients. Reset Pharma has established a highly experienced biotech development team and has a Scientific Advisory Board of leading experts in psychiatry, oncology and psychedelics. Information about Reset Pharma can be found at www.resetpharma.com.

About NYU Langone Health

NYU Langone Health is a world-class, patient-centered, integrated academic medical center, known for its excellence in clinical care, research, and education. Included in its 350+ locations throughout the New York area are six inpatient locations: Tisch Hospital, its flagship acute-care facility; Kimmel Pavilion, its state-of-the-art healthcare facility, opened in 2018; NYU Langone Orthopedic Hospital, a dedicated inpatient orthopedic hospital with all musculoskeletal specialties ranked top 10 in the country; Hassenfeld Children’s Hospital at NYU Langone, a comprehensive pediatric hospital supporting a full array of children’s health services; NYU Langone Hospital—Brooklyn, a full-service teaching hospital and level 1 trauma center located in Sunset Park, Brooklyn; and NYU Langone Hospital—Long Island, a 591-bed hospital and level 1 trauma center located in Mineola, Long Island. Also part of NYU Langone Health is the Laura and Isaac Perlmutter Cancer Center, a National Cancer Institute–designated Comprehensive Cancer Center, and NYU Grossman School of Medicine, which since 1841 has trained thousands of physicians and scientists who have helped to shape the course of medical history; and NYU Long Island School of Medicine, on the campus of NYU Langone Hospital—Long Island, which offers full-tuition scholarships with an innovative, accelerated three-year curriculum exclusively devoted to training primary care physicians. For more information, go to nyulangone.org, and interact with us on Facebook, Twitter, YouTube, and Instagram.

Forward-Looking Statements

This press release contains “forward-looking statements” concerning the development and commercialization of Reset Pharmaceuticals’ products, timing of clinical trials, the company’s business development efforts and its expectations regarding its prospects. Forward-looking statements are subject to risks, assumptions and uncertainties that could cause actual future events or results to differ materially from such statements, including the ability to obtain funding to support planned clinical activities. These statements are made as of the date of this press release. Actual results may vary. Reset Pharmaceutical undertakes no obligation to update any forward-looking statements for any reason.

For further information please contact:

Reset Pharmaceuticals Inc

Jan-Anders Karlsson
info@resetpharma.com 

CoreIR

Media Inquiries:
Jules Abraham
Julesa@coreir.com 

Investor Inquiries:
Scott Arnold
info@resetpharma.com 

NYU Langone Healthy

Media Inquiries:
Jim Mandler
Media Relations Office
Jim.mandler@nyulangone.org 

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1 Ross et al, Journal of Psychopharmacology, 2016, Vol. 30(12) 1165–1180
2 Agin-Liebes et al, Journal of Psychopharmacology, 2020, Vol. 34(2) 155–166
3 Walker et al, Lancet Psychiatry 2014; 1: 343–50
4 Watson et al, European Journal of Cancer 2005; 41: 1710–1714
5 Vehling et al, Cancer 2017;123:3394-401.