Astrocyte Pharmaceuticals, a Cambridge, MA-based Groton, CT-based clinical-stage drug discovery and development company, raised $6M in Pre-Series B funding.
The round was led by Dreavent Capital, and joined by the Alzheimer’s Drug Discovery Foundation, Navis VB Fund I, DeepWork Capital, Mid Atlantic Bio Angels, Boston Harbor Angels, Life Science Angels, Mass Medical Angels, SideCar Angels, and others.
Led by CEO William Korinek, Astrocyte Pharmaceuticals is a clinical-stage biopharmaceutical company that works for brain injury treatment enhancing the lives of those affected. The company is advancing therapeutic agents that show efficacy across diverse small and large animal brain injury models, encompassing stroke, traumatic brain injury, concussion, and neurodegenerative conditions like Alzheimer’s disease.
Astrocyte intends to use the funds to accelerate the clinical development of AST-004, a promising therapeutic candidate aimed at treating a broad array of acute brain injuries including stroke and traumatic brain injury (TBI), and further assess its potential in preclinical models of Alzheimer’s disease.
Astrocyte is currently conducting Phase 1B clinical safety studies of AST-004 and preparing for Phase 2 efficacy studies in 2024. Beyond acute brain injuries, research continues assessing the potential of AST-004 to treat chronic neurodegenerative conditions such as Alzheimer’s disease.
FinSMEs
21/08/2023