October 9, 2023
Brandon Capital Joins AstronauTx’ £48 million ($61 million) Series A Financing to Create New Treatments for Alzheimer’s disease
- Brandon Capital participates in AstronauTx £48 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 Alzheimer’s disease
- Jonathan Tobin, Partner at Brandon Capital, joins the AstronauTx board
Melbourne, Australia and London UK, 10 October 2023 – Brandon Capital, an international venture capital firm and Australasia’s leading early-stage life science investor, is pleased to announce its investment into AstronauTx Ltd, a UK-based biotech company developing novel treatments for Alzheimer’s disease and other neurodegenerative disorders as part of its £48 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 company’s portfolio of first-in-class, small-molecule drugs including a clinical study in patients with Alzheimer’s 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 Alzheimer’s and other neurological diseases, an area of high unmet need but where recent breakthroughs are offering new hope. This is Brandon’s second investment in an UK neuroscience company, having invested in NRG Therapeutics series A in 2022.”
Dr Ruth McKernan, co-founder of AstronauTx said, “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.”
A member of the UK’s BioIndustry Association, Brandon Capital’s European headquarters is located in London’s Kings Cross area biotech hub. As well as AstronauTx and NRG Therapeutics, the firm’s 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:
Brandon Capital (media enquiries)
Sue Charles, Charles Consultants
Tel: +44 (0)7968 726585
Kirrily Davis, Communications Manager, Brandon Capital
Tel: +61 (0)61 401 220228
Notes to Editors
About Brandon Capital – www.brandoncapital.vc
Brandon Capital is Australasia’s leading life science venture capital firm, with an international presence, and team members across ANZ, the US and UK. From early-stage seed investment through to expansion capital, Brandon Capital supports life science companies from proof-of-concept through to commercialisation. Our venture model is unique: we don’t just provide investment, we partner with inventors, entrepreneurs and research organisations, providing hands-on support and expertise to increase their chance of success.
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About AstronauTx Ltd – www.AstronauTx.Bio
AstronauTx is a UK based Biotechnology company developing drugs for the treatment of Alzheimer’s disease. It was founded in 2019 by the Dementia Discovery Fund.