Round Comprised of New and Former Investors, Including Dr. Josef Ackermann, Wilhelm Beier, Toni Kroos, and Carsten Maschmeyer
First of Two Expected Closings of Round Increases Total Capital Raised to Date to EUR 42.3 Million
MUNICH, Germany, Oct. 20, 2022 (GLOBE NEWSWIRE) -- HMNC Brain Health ("HMNC' or the "Company"), a clinical stage biopharma company pioneering precision psychiatry, today announced it has raised an additional EUR 14.3 million in a funding series, bringing the total capital raised to date to EUR 42.3 million.
The additional funding was raised from existing investors, including Carsten Maschmeyer, the Jahr Group and Guntard Gutmann. The round also included new investors Dr. Josef Ackermann (formerly CEO of Deutsche Bank), Toni Kroos (Real Madrid), Wilhelm Beier (Dermapharm) and Hans Kompernaß (Hans Kompernaß GmbH).
The proceeds will be used to accelerate HMNC's precision psychiatry programs, in which first-in-class pharmaceuticals are co-developed with proprietary genetic companion diagnostics to identify the patient groups most likely to benefit most from these treatments. HMNC's flagship clinical trial, the Nelivabon program's multi-national phase 2 study, is set to start enrollment in early 2023. In addition, the funds will advance the development of the Ketabon program, an oral prolonged release formulation of ketamine targeting treatment-resistant depression. The program entered a clinical phase 2 trial in June 2022 to assess the efficacy, safety, and tolerability of an add-on treatment with the compound KET01 in 117 patients suffering from treatment-resistant depression.
"We are very pleased to receive support from both new and current investors. With this funding, we will advance the development of our personalized therapies to combat severe, unmet mental health challenges around the world. Raising additional capital is a tremendous vote of confidence in the promise of our clinical trial candidates, the power of precision medicine in psychiatry and our team's ability to achieve its strategic priorities," commented Dr. Maximilian Doebler, Chief Business Officer of HMNC Brain Health.
"Mental health is a serious issue that affects millions of people around the world. I have witnessed how mental health is undervalued in competitive sports in particular, even though the physical and psychological pressure is incredibly high. The team at HMNC Brain Health are true pioneers in this field, combating mental illness with precisely tailored, individualized treatments, which is why I am delighted to be on board," added Toni Kroos, professional soccer player at Real Madrid.
Dr. Josef Ackermann, former Chief Executive Officer of Deutsche Bank, said, "I have always been intrigued by breakthrough innovations that improve people's lives, especially when it comes to health. That's why I have decided to support HMNC as an investor and be part of the precision psychiatry revolution. Through investing in HMNC's programs, I want to foster an important societal impact in the fight against anxiety disorders and depression."
Carsten Maschmeyer, Co-Founder and Member of the Board of Directors at HMNC Brain Health added, "We are extremely encouraged by the progression of HMNC Brain Health's activities to date, and equally confident in the team's ability to achieve further success. Over the past few months, HMNC has recruited key experts to join the team, and made great progress in advancing its medications and companion diagnostics. Unsurprisingly, within a short period of time we attracted several new, renowned investors to support the maturation of HMNC Brain Health, who are as convinced as I am of the important role HMNC will play in treating mental health patients globally."
HMNC Brain Health expects to complete a second closing of this round by end of March 2023.
About HMNC Brain Health
HMNC Brain Health (HMNC Holding GmbH) is a clinical stage precision psychiatry biopharma company, pioneering the development of personalized therapies, powered by its AI platform and predictive companion diagnostics suite, bringing substantial therapeutic benefit to select patient populations suffering from mental health disorders. The company develops a unique pipeline for targeting both Major Depressive Disorder (MDD) and Treatment-Resistant Depression (TRD). HMNC's precision psychiatry franchise for MDD includes the Nelivabon program, in which it develops a V1bR antagonist with its companion diagnostic, and the Cortibon program, in which it develops a CRHR1 antagonist with its companion diagnostic. Additionally, in a joint venture with Develco Pharma, the Company is also developing an oral-prolonged release formulation of racemic ketamine that combines the rapid efficacy of ketamine with superior tolerability and convenience, to provide an enhanced treatment option for TRD. The Company has operations in both the US and Germany and is backed by a renowned global VC, several family offices, and a strategic healthcare investor.
Media contacts
Alexander Schmidt
Anne Donohoe
Investor Contact
