Total Funds Raised to Date of EUR 28 Million From Prominent Investors Positions Company for Series B Round in 2021
MUNICH, Germany, July 28, 2021 (GLOBE NEWSWIRE) -- HMNCBrainHealth ("HMNC" or the "Company"), a biotech company pioneering the development of personalized therapies in psychiatry powered by predictive companion diagnostics, today announced it has received an additional EUR 9 million EUR from its current investors. The supplemental investment brings the total raised to date to EUR 28 million and will secure HMNC's financial position in advance of an expected Series B round later this year.
The current raise, in the form of convertible debt, was provided by renowned family offices, including that of Carsten Maschmeyer, the Jahr family and Dr. Guntard Gutmann.
The additional funds will be used to accelerate HMNC's pipeline development towards market maturity. In particular, the funding will allow the Company to prepare for two CRO-led proof-of-concept studies, drive strategic growth initiatives and strengthen the HMNC team.
"The continued support of our existing shareholders emphasizes their confidence in the strategic direction of the business and our potential to develop a unique pipeline in personalized, precision psychiatry," said Benedikt von Braunmühl, CEO of HMNC Brain Health. "These funds will allow HMNC to advance our strategic agenda and take another step in improving the quality of lives of patients around the world suffering from depression or other neuropsychiatric disorders."
Carsten Maschmeyer, Co-Founder and Member of the Board of Directors at HMNC Brain Health, added, "We are extremely encouraged with the advancement of the clinical pipeline and will continue to support HMNC Brain Health on its way to become a leading player in precision psychiatry."
AboutHMNCBrainHealth
HMNC Brain Health (HMNC Holding GmbH) is a biotech company pioneering in developing personalized therapies powered by predictive companion diagnostics, leading to far shorter treatments and higher remission. The company develops a unique pipeline for targeting both major depressive disorder (MDD) and treatment-resistant depression (TRD). HMNC Brain Health is located at one of the leading European biotech hubs in Munich and backed by renowned family offices. The company now enters the next stage of its development with a large-scale licensing and fundraising agenda.
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