HMNC Brain Health, a clinical-stage neuroscience company, raised its first $50 million tranche of a Series B and secured a commercialization partnership with family-owned German healthcare firm MEDICE. MEDICE led the round, and the companies said the financing and licensing were aligned around HMNC’s precision psychiatry pipeline. The capital supports late-stage development of two depression therapies: Ketabon (KET01), an oral prolonged-release ketamine formulation designed for treatment-resistant depression, and Nelivabon (BH-200). HMNC also secured exclusive European commercialization rights for KET01 through a licensing agreement, including royalties and milestone payments. For biotech investors and BD teams, the transaction is a clear example of how European commercialization capacity and clinical development funding are being bundled into structured risk-sharing deals in psychiatry.