Reset Pharmaceuticals Appoints Innes Meldrum as President and Chief Executive Officer

NEW YORK, Jan. 05, 2023 (GLOBE NEWSWIRE) — Reset Pharmaceuticals, Inc. (Reset Pharma), a privately held biotechnology company focused on the development of innovative treatments to address mental health indications related to life-altering diseases, today announces that Innes Meldrum has been appointed President and Chief Executive Officer. He is taking over from Jan-Anders Karlsson, Ph.D., a founder of Reset Pharma.

Innes Meldrum has nearly 30 years of global experience in the biotechnology and technology industries, having most recently served as Senior Vice President and Chief Commercial Officer for Otsuka Pharmaceuticals North America. In this role he was responsible for all commercial activities including Otsuka’s psychiatry business and the commercialization of CNS drugs such as Abilify Maintena^®1. Before this, he served as Commercial Vice President at Orexo focused on addiction medicine and prior to this spent 11 years in commercial roles of increasing responsibility at Novartis in the US, as well as within the global organization based in Switzerland.

“We are delighted to have Innes join Reset Pharma as CEO,” said Philip Taub, Chair of the Board. “He is a highly experienced international life sciences leader who has led cross-functional late-stage development and commercialization teams and successfully launched and marketed CNS drugs. His proven track record and ability to develop top-notch teams will be vital for the Company as we prepare for the next phase of growth. I warmly welcome Innes and look forward to working with him and the entire Reset Pharma team. I’d also like to thank Jan-Anders for his leadership and commitment to Reset Pharma from its founding.”

Tim Schlidt, of Series A lead investor Palo Santo said, “We believe Innes’ successful track record in commercializing multiple CNS drugs will lend itself well as our industry continues to evaluate what the economic model around psychedelic-assisted psychotherapy will be. Psilocybin, combined with psychotherapy, holds great promise to alleviate the mental suffering for millions of patients with cancer and other life-threatening illnesses. The research of trailblazers in the field has inspired so many of us to seek to get these therapies approved and available to those in need. We’re thrilled to have Innes on board at Reset Pharma to help make this a reality.”

Innes Meldrum, President and Chief Executive Officer, commented, “I am excited to join Reset Pharma as the Company accelerates its progress and look forward to working with the team to advance our programs, including psilocybin-related therapy for cancer patients with demoralization syndrome and other mental health conditions.”

Up to 40% of all cancer patients in the US, representing almost seven million individuals, may be diagnosed with a mood disorder. An estimated 20% of all patients with life-altering cancer have clinically relevant demoralization that often occurs independent of other mood disorders like depression or anxiety. These patients have symptoms, such as hopelessness, helplessness and discouragement, which are associated with a loss of confidence in one’s ability to cope with significant distress. They are also more likely to have suicidal thoughts, have more difficulties with adherence to cancer therapy, and lack effective treatment options.²³⁴

About Reset Pharmaceuticals, Inc.

Reset Pharma is a privately held, US-based biotechnology company developing and commercializing novel clinical-stage treatments for patients suffering from mental illness related to life-altering diseases. The Company’s lead program initially focuses on developing a psilocybin-related product to treat Demoralization Syndrome in patients with cancer. These patients have clinically relevant levels of demoralization with a perceived lack of control, hopelessness and helplessness and an increased risk of suicide. While the primary focus is the development of a psilocybin-related product for demoralization, as there are currently no effective treatments for this disorder, psilocybin also shows promise as a treatment for anxiety and depression in cancer patients. Reset Pharma has established a highly experienced biotech development team with a strong track record of successful approvals and launches of neuroscience drugs in the US. The Company also has a Scientific Advisory Board of key opinion leaders in psychiatry, oncology and psychedelics, as well as a Strategic Advisory Board. Information about Reset Pharma can be found at www.resetpharma.com.

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 Pharmaceuticals undertakes no obligation to update any forward-looking statements for any reason.

For further information please contact:

Reset Pharmaceuticals, Inc.

Innes Meldrum
info@resetpharma.com

Media inquiries:

MC Services AG
Laurie Doyle
reset-pharma@mc-services.eu

1 Abilify Maintena^® is a registered trademark of Otsuka Pharmaceutical Co., Ltd.
2 Walker et al, Lancet Psychiatry 2014; 1: 343–50
3 Watson et al, European Journal of Cancer 2005; 41: 1710–1714
4 Vehling et al, Cancer 2017;123:3394-401.