Munich, Germany-based clinical-stage biopharma company HMNC Brain Health raised an additional EUR 14.3 million in recent funding. The round took place on October 21, 2022. Existing investors such as Carsten Maschmeyer, the Jahr Group and Guntard Gutmann joined the financing. Meanwhile, new investors Dr Josef Ackermann (formerly CEO of Deutsche Bank), Toni Kroos (Real Madrid), Wilhelm Beier (Dermapharm) and Hans Kompernaß (Hans Kompernaß GmbH) backed the firm.
Purpose of funding for HMNC Brain Health
With the additional proceeds, the company intends to accelerate its precision psychiatry programs. The programs involve co-developing first-in-class pharmaceuticals with proprietary genetic companion diagnostics to identify the patient groups most likely to benefit most from these treatments. The company’s flagship clinical trial, the Nelivabon program’s multi-national phase 2 study, will start enrollment in early 2023.
Besides, HMNC Brain Health aims to advance the development of the Ketabon program, an oral prolonged-release formulation of ketamine targeting treatment-resistant depression.
What the company’s official has to say
Dr Maximilian Doebler, Chief Business Officer of HMNC Brain Health, said, “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.”
What the investors have to add
Toni Kroos, a professional soccer player at Real Madrid, said, “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. Hence, my reason for being delighted to be on board.”
In addition, 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.”
Besides, 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. Moreover, we are 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.”
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