Brandon Li talks with Matt Leoni—former Senior VP of Global Clinical Development at Cerevel and now Chief Medical Officer at Merida Biosciences. Matt shares his journey from medical school to leading late-stage drug development in neuroscience. He discusses the unique challenges of neuro drug development, from the subjectivity of endpoints and high placebo response rates to the operational hurdles of large-scale trials. Matt offers candid insights into why promising drugs sometimes fail, the limitations of current measures, and where innovation is most needed. The conversation explores disease-modifying therapies, advances in Parkinson’s and schizophrenia research, the promise and pitfalls of psychedelics and psychoplastogens, and his vision for a more risk-tolerant industry that fosters breakthrough discoveries.