Amsterdam, The Netherlands, October 16, 2023 - EQT Life Sciences is happy to announce an investment from the LSP Dementia Fund into AstronauTx Ltd. (“AstronauTx” or “the Company”), a UK based biotech company developing novel treatments for Alzheimer’s disease and other neurodegenerative disorders, as part of a £48 million ($61 million) Series A financing.
The financing was led by the Novartis Venture Fund. In addition to EQT Life Sciences, the round also attracted capital from leading global venture investors such as Brandon Capital, Bristol Myers Squibb, MPM Capital. Existing investors, including the Dementia Discovery Fund, also participated.
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 the company’s portfolio of programmes. 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 company’s portfolio of small-molecule drugs, including a clinical study in patients with Alzheimer’s disease for the lead programme. The products are expected to provide both symptomatic and disease
modifying benefits.
"This investment will help to accelerate AstraunoTx's growth as it looks to develop new oral treatments that improve the brain’s own physiological restorative mechanisms, to clear the brain from toxic proteins and at the same time improving cognitive function. EQT Life Sciences is excited to be making another investment in the field of neurodegeneration, the sixth from the LSP Dementia Fund since its inception in 2021." said Prof. Philip Scheltens, Head of the LSP Dementia Fund.
As part of the financing Prof. Philip Scheltens, MD, PhD will join the board of directors and
Arno de Wilde, MD, PhD, MBA will join as board observer.
The Company’s full press can be found here.
Contacts
EQT Press Office, cerff@rdgcnegaref.pbz
Prof Philip Scheltens. Partner and Head of the LSP Dementia Fund,
Cuvyvc.fpurygraf@rdgcnegaref.pbz
About EQT Life Sciences
The financing was led by the Novartis Venture Fund. In addition to EQT Life Sciences, the round also attracted capital from leading global venture investors such as Brandon Capital, Bristol Myers Squibb, MPM Capital. Existing investors, including the Dementia Discovery Fund, also participated.
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 the company’s portfolio of programmes. 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 company’s portfolio of small-molecule drugs, including a clinical study in patients with Alzheimer’s disease for the lead programme. The products are expected to provide both symptomatic and disease
modifying benefits.
"This investment will help to accelerate AstraunoTx's growth as it looks to develop new oral treatments that improve the brain’s own physiological restorative mechanisms, to clear the brain from toxic proteins and at the same time improving cognitive function. EQT Life Sciences is excited to be making another investment in the field of neurodegeneration, the sixth from the LSP Dementia Fund since its inception in 2021." said Prof. Philip Scheltens, Head of the LSP Dementia Fund.
As part of the financing Prof. Philip Scheltens, MD, PhD will join the board of directors and
Arno de Wilde, MD, PhD, MBA will join as board observer.
The Company’s full press can be found here.
Contacts
EQT Press Office, cerff@rdgcnegaref.pbz
Prof Philip Scheltens. Partner and Head of the LSP Dementia Fund,
Cuvyvc.fpurygraf@rdgcnegaref.pbz
About EQT Life Sciences
EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European
life sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients. The LSP Dementia Fund started in 2020 and has a dedicated neuroscience team that combines deep sector knowledge, analytical skills, and investment experience to provide the added value that inventors seek.
life sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients. The LSP Dementia Fund started in 2020 and has a dedicated neuroscience team that combines deep sector knowledge, analytical skills, and investment experience to provide the added value that inventors seek.
About AstronauTx Ltd
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. For more information, please go to AstronauTx.Bio
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