2 years ago

AstronauTx Raises £48 Million Series A for Alzheimer's Drug Development

  • AstronauTx, a UK-based biotech company, has secured £48 million ($61 million) in Series A funding led by Novartis Venture Fund, with participation from Brandon Capital, MPM Capital, EQT Life Sciences, Bristol Myers Squibb and founding investor the Dementia Discovery Fund

  • The funding will be used to advance the company's portfolio of small-molecule drugs, including a clinical study in patients with Alzheimer's disease for its lead program

  • AstronauTx, founded in 2019 by Dr Ruth McKernan and Dr David Reynolds, develops drugs for the treatment of Alzheimer's disease and recently partnered with Saniona to identify new treatments by modulating a novel ion channel target.

      • ProblemHealthcare

      "Alzheimer's disease is a debilitating and fatal neurodegenerative disease that affects millions of people worldwide."

      Solution

      "AstronauTx is developing small-molecule drugs to treat Alzheimer's disease. Their lead program is currently in clinical trials."

      Covered on