AstronauTx secures £48m funding to advance Alzheimer's research
AstronauTx Ltd, a London-based biotech company, recently secured £48m ($61m) in Series A financing to further its mission. The funding round was led by Novartis Venture Fund, with support from Brandon Capital, MPM Capital, EQT Life Sciences, Bristol Myers Squibb, and the Dementia Discovery Fund, who had been one of the founding investors of AstronauTx. As part of the deal, Jonathan Tobin from Brandon Capital will join AstronauTx's board of directors. With the newly acquired funds, the company plans to advance its portfolio of small-molecule drugs, primarily focusing on conducting a clinical study in patients with Alzheimer's disease for its lead programme.
Established in 2019 by Dr Ruth McKernan and Dr David Reynolds, AstronauTx specializes in the development of drugs targeting Alzheimer's disease.
Their research aims to discover innovative treatments for this debilitating condition. In a significant stride towards accomplishing their goals, AstronauTx entered into a partnership with Saniona, a Danish biotech firm, in July 2023. With this collaboration, they aim to identify new treatments by modulating an undisclosed and revolutionary ion channel target, thereby expanding the depth and breadth of their programme portfolio.
Furthermore, AstronauTx received a prestigious Innovate UK grant in September 2023 to support their preclinical work on one of their programmes. This recognition validates the potential of the company's research and provides additional resources to further advance their scientific endeavors. With the combination of significant funding, partnerships, and grants, AstronauTx is well-positioned to make substantial progress in Alzheimer's research and potentially improve the lives of millions affected by this devastating disease.
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| # | Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|---|
1 |  Novartis Venture Fund | 3 investment(s) investment(s) | more info | |||
2 |  Brandon Capital | 3 investment(s) investment(s) | more info | |||
3 |  MPM Capital | 1 investment(s) investment(s) | more info | |||
4 |  EQT Life Sciences | 1 investment(s) investment(s) | more info | |||
5 |  Bristol Myers Squibb | 1 investment(s) investment(s) | more info |
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