AstronauTx Ltd, a London, UK-based biotech company, raised£48m ($61m) in Series A financing.
The round was 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. Following the financing, Jonathan Tobin, UK-based Partner at Brandon Capital will join AstronauTx board of directors.
The company intends to use the funds to advance its portfolio of small-molecule drugs including a clinical study in patients with Alzheimer’s disease for its lead programme.
Created in 2019 by Dr Ruth McKernan and Dr David Reynolds, AstronauTx is a biotechnology company developing drugs for the treatment of Alzheimer’s disease. In July 2023, AstronauTx announced a partnership with Saniona, a Danish biotechnology company, to identify new treatments by modulating a novel, undisclosed ion channel target, expanding its portfolio of programmes. In September 2023, AstronauTx was awarded an Innovate UK grant to fund preclinical work on one of its programmes.
FinSMEs
09/10/2023