AstronauTx closes £48 million ($61 million) Series A financing to create new treatments for Alzheimer's disease
Summary
In September 2023, AstronauTx was awarded an Innovate UK grant to fund preclinical work on one of its programmes.The proceeds of the Series A financing will be used to advance the companys portfolio of small-molecule drugs, including a clinical study in patients with Alzheimers disease for the lead programme. Marianne Uteng, Managing Director at the Novartis Venture Fund, said: "We are proud to have gathered a stellar international syndicate that aims to develop new therapies for Alzheimers Disease. Laurence Barker, Partner with the Dementia Discovery Fund, said: "DDF led the creation of AstronauTx to pursue the development of novel mechanisms to treat Alzheimers and the lean team have done a fantastic job building an exciting early stage portfolio. We are thrilled to see their hard work recognised by this leading venture syndicate and raise sufficient capital to advance these novel approaches into patients..AstronauTx is a UK based Biotechnology company developing drugs for the treatment of Alzheimers disease. With more than $500m raised for this strategy, and offices in London and Boston, DDF capitalizes on global investment opportunities to fulfill its dual mandate of delivering measurable impact and generating significant financial returns.