HMNC Brain Health raised $50 million in a series B to move its depression programs toward Phase 3 readiness. The funding supports two lead programs as the company advances preclinical-to-late-stage conversion. In eczema, Triveni Bio disclosed a $65 million Series C tied to clinical progress, with a second eczema asset entering clinical studies. The financing confirms investors remain active in immunology beyond just oncology. These rounds collectively show biotech funding still prioritizes programs with clear development timetables—especially when clinical entry or Phase 3 preparation is imminent.