Research unveiled at ECNP 2025 in Amsterdam strengthens the case for a secure at-home treatment alternative for individuals with treatment-resistant depression.
MUNICH, Oct. 15, 2025 – Ketabon GmbH (“Ketabon” or “the Company”), a collaboration between HMNC Brain Health and Develco Pharma, today released new findings from a post hoc analysis of the KET01-02 Phase 2 clinical trial, which investigated KET01, its oral extended-release ketamine formulation, for managing treatment-resistant depression (TRD).
The poster, showcased at the 38th Annual Congress of the European College of Neuropsychopharmacology (ECNP) in Amsterdam, revealed that dissociative symptoms stayed consistent with placebo levels during KET01 treatment. Furthermore, a mediation analysis verified that KET01’s antidepressant effectiveness did not rely on dissociation. These observations suggest that KET01’s therapeutic advantages are separate from the dissociative effects commonly linked with ketamine, thereby reinforcing its promise as a safer, better-tolerated, and more readily available treatment choice for TRD patients.
“These outcomes strengthen our long-held theory that ketamine’s antidepressant qualities are not facilitated by dissociation,” stated Dr. Hans Eriksson, Chief Medical Officer at HMNC Brain Health. “By preserving clinical effectiveness without causing dissociation, KET01 could allow for more secure and user-friendly at-home treatment pathways for individuals suffering from treatment-resistant depression.”
The discoveries contribute to increasing evidence suggesting that dissociation is not an essential process for ketamine’s antidepressant action, and that oral, extended-release formulations can alleviate significant tolerability issues linked to current intravenous or intranasal treatments.
KET01 is currently under development by Ketabon GmbH, a collaborative effort involving HMNC Brain Health and Develco Pharma. This initiative forms part of HMNC’s wider precision psychiatry portfolio, which incorporates predictive diagnostics and AI-driven biomarker instruments to tailor psychiatric care.
About the Ketabon Program
The Ketabon program, a partnership between HMNC Brain Health and Develco Pharma, introduces an oral extended-release ketamine formulation (KET01) for treatment-resistant depression, characterized by very few dissociative side effects. This novel method seeks to enable at-home ketamine treatment, potentially enhancing its safety profile and patient convenience compared to current intravenous and intranasal ketamine therapies. The advancement of oral extended-release ketamine might also be applicable to other conditions apart from depression, including anxiety, aggression, PTSD, and panic disorder.
About HMNC Brain Health
HMNC Brain Health (HMNC Holding GmbH) is a biopharmaceutical firm focused on precision psychiatry, creating individualized depression treatments guided by predictive genetic selection instruments. The company’s development pipeline comprises three Phase 2 initiatives for Major Depressive Disorder (MDD): Nelivabon, which is developing a vasopressin V1b receptor antagonist alongside a proprietary genetic selection tool; Cortibon, which is developing a CRHR1 antagonist with a corresponding companion diagnostic; and Ketabon, which is developing KET01, an extended-release oral ketamine formulation intended for secure, at-home administration.
About Develco Pharma
Develco Pharma is a pharmaceutical company based in Switzerland and Germany, with its main office in Pratteln, Switzerland. It specializes in creating and producing orally delivered medications with modified, extended, and chrono-release properties. Founded in 2006, the company employs 130 staff members and operates a cutting-edge production plant in Schopfheim, Germany. Develco creates generic, hybrid, value-added, and novel formulations, supported by clinical data, for the delayed or altered release of active components. With roughly 180 product approvals globally, Develco Pharma is acknowledged as a prominent supplier of pharmaceuticals across numerous therapeutic fields. More information at
Media contacts:
Anne Donohoe
+1 732-620-0033
Investors:
Maximilian Doebler
Chief Business Officer
HMNC Brain Health
