HMNC Brain Health has successfully completed the first closing of its USD 50 million Series B funding round. The clinical neurobiotechnology company plans to use the capital to advance the development of its portfolio, particularly the Ketabon (KET01) and Nelivabon (BH-200) programs. MEDICE – The Health Family is participating in the funding round as the lead investor.
The healthcare company, which specializes in mental health, is among the market leaders in the ADHD sector in several European countries. In addition, existing investor The Maschmeyer Group also participated. The funds are to be used primarily for the late-stage clinical development of the two drug candidates as well as for the preparation of the Phase 3 programs.
Ketabon (KET01) is an oral, extended-release ketamine formulation for the treatment of treatment-resistant depression. The drug was developed as a scalable treatment option for outpatient and at-home use. In Phase 2 studies, KET01 demonstrated rapid antidepressant effects with reduced dissociative side effects compared to existing ketamine-based therapies.
Nelivabon (BH-200) is an orally available vasopressin V1b receptor antagonist and is being developed as a biomarker-guided precision therapy for biologically defined depressive disorders. The program delivered promising results in the Phase 2b OLIVE study and is based on a proprietary genetic method for patient selection. In addition, HMNC is exploring a potential expansion of the development program to other neurological and psychiatric indications.
In conjunction with the financing, HMNC and MEDICE have entered into a strategic licensing agreement. This agreement grants MEDICE exclusive marketing rights for KET01 in Europe. Under the terms of the agreement, HMNC stands to benefit from tiered double-digit royalties on net sales as well as performance-based milestone payments.
The collaboration combines HMNC’s neuroscience development expertise and precision medicine capabilities with MEDICE’s established European commercialization infrastructure in the field of mental health. Both companies aim to make innovative therapeutic approaches for depression and other neuropsychiatric disorders available to patients more quickly.
KET01 and BH-200 are currently in clinical development and have not yet been approved by the relevant regulatory authorities.