Brandon Capital Joins AstronauTx’ £48 million ($61 million) Series A Financing to Create New Treatments for Alzheimer’s disease
Summary
Brandon Capital participates in AstronauTx \xa348 million ($61 million) Series A financing alongside experienced International Investors Novartis Venture Fund, MPM Capital, EQT Life Sciences, Bristol Myers Squibb and founding investor the Dementia Discovery Fund The financing will be used to create new treatments for Alzheimers diseaseMELBOURNE, Australia and LONDON , Oct. 09, 2023 (GLOBE NEWSWIRE) -- Brandon Capital, an international venture capital firm and Australasias leading early-stage life science investor, is pleased to announce its investment into AstronauTx Ltd, a UK-based biotech company developing novel treatments for Alzheimers disease and other neurodegenerative disorders as part of its \xa348 million ($61 million) Series A financing.Brandon Capital participated alongside Novartis Venture Fund, which led the round, and a syndicate of experienced international life science investors including MPM Capital, EQT Life Sciences, Bristol Myers Squibb and founding investor the Dementia Discovery Fund.AstronauTx was created in 2019 with the goal of developing novel drugs to correct the disrupted physiology of the brain. The Series A financing will be used to advance the companys portfolio of first-in-class, small-molecule drugs including a clinical study in patients with Alzheimers disease for its lead programme.Following the financing, Jonathan Tobin, UK-based Partner at Brandon Capital will join AstronauTx board of directors.Jonathan Tobin, Partner at Brandon Capital said, We are pleased to join the impressive syndicate of investors backing AstronauTx in its mission to create therapies that are expected to provide not only symptomatic but also disease modifying benefit in Alzheimers and other neurological diseases, an area of high unmet need but where recent breakthroughs are offering new hope. Our treatments will be oral drugs, applicable across multiple neurodegenerative conditions, and additive with mechanisms that are currently in late-stage development.A member of the UKs BioIndustry Association, Brandon Capitals European headquarters is located in Londons Kings Cross area biotech hub. As well as AstronauTx and NRG Therapeutics, the firms growing European investment portfolio includes, UK-based Pheon Therapeutics, Pathios Therapeutics, Myricx Bio and George Medicines, as well as Germany-based CatalYM.For further information, please contact:About Brandon Capital - www.brandoncapital.vcBrandon Capital is Australasias leading life science venture capital firm, with an international presence, and team members across ANZ, the US and UK. Our venture model is unique: we dont just provide investment, we partner with inventors, entrepreneurs and research organisations, providing hands-on support and expertise to increase their chance of success.About AstronauTx Ltd - www.AstronauTx.Bio AstronauTx is a UK based Biotechnology company developing drugs for the treatment of Alzheimers disease.