Supporters include Novartis Venture Fund, Brandon Capital, and more.
AstronauTx announced in a company press release that it has raised $61 million as a result of Series A funding. With funding led by the Novartis Venture Fund, several others contributed including Brandon Capital, Bristol Myers Squibb, EQT Life Sciences investing from the LSP Dementia Fund, MPM Capital with participation from current investor, the Dementia Discovery Fund. The company intends to use the proceeds to develop new treatments for Alzheimer’s disease.
"We now know that the processes causing Alzheimer's and other similar diseases are modifiable.Progress towards a compendium of new drugs against these devastating diseases is thankfully well underway. Our treatments will be oral drugs, applicable across multiple neurodegenerative conditions, and additive with mechanisms that are currently in late-stage development," said Ruth McKernan, PhD, CBE, co-founder, AstronauTx.
Reference: AstronauTx closes £48 million ($61 million) Series A financing to create new treatments for Alzheimer's disease. PR Newswire. October 9, 2023. Accessed October 9, 2023. https://www.prnewswire.com/news-releases/astronautx-closes-48-million-61-million-series-a-financing-to-create-new-treatments-for-alzheimers-disease-301949897.html