HMNC Brain Health raised $50 million in a Series B to advance two psychiatry programs into mid-stage clinical studies. Medice, a family-owned German drugmaker, led the round with additional backing from other undisclosed investors. The financing is positioned as growth capital to move both depression initiatives through additional trials, aiming to establish clearer efficacy and safety profiles before later-stage investment. For investors, a second-round check of this size signals continued appetite for psychiatry pipelines even as risk remains elevated relative to other therapeutic categories. HMNC’s strategy is to use the capital to progress two depression assets in parallel, potentially improving decision-making efficiency on go-forward selection.