- Financing will accelerate the development of HMNC’s neurosciences portfolio, including Phase 3-readiness activities for Ketabon (KET01) and Nelivabon (BH-200)
- Agreement grants MEDICE exclusive European commercialization rights for KET01, with tiered double-digit royalties and significant milestone payments
MUNICH, Germany, June 15, 2026 – HMNC Brain Health ("HMNC" or the "Company"), a clinical-stage neuroscience company, today announced the successful $50 million first closing of its Series B financing to support the advancement of the Company’s Ketabon (KET01) and Nelivabon (BH-200) clinical programs.
MEDICE – The Health Family (“MEDICE”) led the financing round as the main investor. MEDICE is one of the leading healthcare companies with a focus on mental health and is a market leader in the ADHD segment in several European countries. In addition, existing investor The Maschmeyer Group also participated in this round. Proceeds will support the late-stage clinical development of HMNC’s neuroscience portfolio, including Phase 3-readiness activities for Ketabon (KET01) and Nelivabon (BH-200).
Ketabon (KET01) is an oral prolonged-release ketamine formulation for treatment-resistant depression (TRD), developed as a differentiated and scalable treatment option for outpatient and at-home use. Phase 2 studies have demonstrated rapid antidepressant effects and reduced dissociative side effects compared with existing ketamine-based therapies.
Nelivabon (BH-200) is a first-in-class oral vasopressin V1b receptor antagonist being developed as a biomarker-guided precision therapy for biologically defined depressive disorders. The program has generated encouraging Phase 2b results in the OLIVE study and is supported by a proprietary genetic patient stratification approach. HMNC is also evaluating the potential expansion of the program into additional neuroscience indications.
In parallel, MEDICE has entered into a strategic licensing agreement for the European commercialization of KET01. Under the terms of the agreement, HMNC and its affiliates are eligible to receive tiered double-digit royalties on net sales and significant success-based commercial milestone payments. The partnership combines HMNC’s differentiated neuroscience pipeline and precision capabilities with MEDICE’s established European commercial infrastructure in the field of mental health.
Dr. Maximilian Doebler, Managing Director & Chief Business Officer, HMNC, said: “Securing this financing alongside a strategic partner like MEDICE validates our scientific approach and our broader vision of building a next-generation neuroscience company. MEDICE brings the expertise and commercial infrastructure to help bring KET01 to patients at scale, and we are excited to partner with such an experienced and highly regarded team.”
Dr. Dr. Jessica Burgstaller, VP Strategy & Corporate Development, HMNC, said: “This partnership is an important step toward bringing our scientific insights closer to patients. Seeing years of research translate into meaningful new treatment options for patients further strengthens our conviction that precision neuroscience can reshape mental health treatment. At the same time, we are committed to improving access to safe and rapid-acting ketamine-based therapies.”
“Mental health is at the heart of what MEDICE does, and Ketabon represents a compelling opportunity to expand our presence in depression treatment with a differentiated approach. We are also excited by the potential of HMNC’s biomarker-guided precision portfolio, including Nelivabon, which reflects where we believe the field is heading. By combining MEDICE’s commercial infrastructure and neuropsychiatry expertise with HMNC’s innovation capabilities, we are well positioned to help bring these programs to patients across Europe,” said Dr. med. Katja Pütter-Ammer, Managing Partner of MEDICE.
KET01 and BH-200 are investigational therapies and are not approved by regulatory authorities.
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Contact
HMNC Brain Health
Dr. Maximilian Doebler, Managing Director & Chief Business Officer
E-mail: maximilian.doebler@hmnc-brainhealth.com
Dr. Dr. Jessica Burgstaller, VP Strategy & Corporate Development
E-mail: jessica.burgstaller@hmnc-brainhealth.com
MEDICE – The Health Family
Harald Goeßl, Head of Corporate Communications
E-mail: H.Goessl@medice.de
ICR Healthcare
Tracy Cheung / Ashley Tapp / Kris Lam
E-mail: HMNCBrainHealth@icrhealthcare.com
About HMNC Brain Health (HMNC Holding GmbH)
HMNC Brain Health (HMNC) is a clinical-stage neuroscience company pioneering new therapies for mental health disorders. Its pipeline includes Nelivabon (BH-200), a vasopressin V1b receptor antagonist being developed as a biomarker-guided precision therapy for biologically defined depressive disorders. Used with a genetic test to identify patients most likely to benefit, Nelivabon offers a precision neuroscience approach to treatment. HMNC is also developing Ketabon (KET01), an oral prolonged-release ketamine formulation for treatment-resistant depression, designed as a differentiated and scalable option for outpatient and at-home use. By advancing targeted and accessible treatment options, HMNC aims to address significant unmet needs of millions of patients who are not helped sufficiently by existing mental health therapies. The Company is headquartered in Munich, Germany. Find out more at www.hmnc-brainhealth.com and connect with us on LinkedIn.
About the Ketabon Program
Ketabon is a joint venture between HMNC Brain Health and Develco Pharma focused on developing KET01, an oral prolonged-release ketamine formulation for treatment-resistant depression (TRD). Designed for safe and convenient at-home treatment, KET01 has demonstrated rapid antidepressant effects with minimal dissociative side effects in Phase 2 studies, potentially offering an important differentiated alternative to existing ketamine-based therapies.
About MEDICE – The Health Family
MEDICE – The Health Family is a third-generation, family-run pharmaceutical company, operating for over 75 years, that focuses on providing integrated, multimodal healthcare solutions. The company develops high-quality prescription (RX) and self-medication (PCC) products, alongside digital health and nutritional concepts. View the full company profile at Welcome to the MEDICE Health Family.
