HMNC Brain Health announced a $50 million Series B led by Medice, paired with a European commercialization licensing arrangement for its two depression therapies. The financing supports mid-to-late stage development of Ketabon (KET01), an oral prolonged-release ketamine formulation targeting treatment-resistant depression, and Nelivabon (BH-200). HMNC characterized KET01 as a scalable outpatient and potentially at-home option designed to reduce dissociative side effects seen with existing ketamine approaches while enabling faster access compared with supervised infusions. Medice secured exclusive European commercialization rights for KET01 under the licensing structure described by HMNC, including tiered royalties and success-based milestones, linking cash returns to clinical and commercial execution.