British Biotech Firm Secures £48 Million for Advancing Alzheimer's Research

 

British Biotech Firm Secures £48 Million for Advancing Alzheimer's Research

A UK-based biotechnology firm, AstronauTx, dedicated to finding innovative solutions for Alzheimer's and other neurodegenerative diseases, has successfully secured £48 million (approximately $61 million) in its inaugural major funding round. Although the company anticipates that its drug candidates will not reach clinical trials for another three to four years, this financing represents a significant step towards addressing the urgent needs of millions of individuals suffering from these debilitating conditions.

Alzheimer's and dementia, which afflict approximately 55 million people worldwide with nearly 10 million new cases emerging each year, are among the most critical global health challenges. AstronauTx, founded in 2019 as a spin-off from University College London, received initial seed funding from the £250 million Dementia Discovery Fund, managed by SV Health Investors. This fund, established in collaboration with the government, industry partners, and Alzheimer's Research UK, aims to invest in pioneering approaches to combatting dementia.

In their Series A funding round, AstronauTx attracted participation from various international investors, with Novartis Venture Fund leading the way and the Dementia Discovery Fund making follow-on investments. The company had previously raised £11 million in financing.

Originally, AstronauTx was established with the primary objective of resetting the behavior of astrocytes, support cells crucial for maintaining the health of neurons, the brain's fundamental units. By preventing the deterioration of astrocytes in neurodegenerative diseases, AstronauTx scientists aim to preserve the optimal functioning of neurons for an extended period.

While astrocytes remain central to the company's research, AstronauTx has expanded its focus to address the symptoms of dementia in the context of neurodegeneration. David Reynolds, the CEO of AstronauTx, elaborated, "We focus on different areas of biology to keep the brain functioning well during the 24-hour cycle. During the day, we want to improve the function of neural networks and boost the metabolism that makes the neurons talk to each other as efficiently as possible."

During nighttime, the brain plays a crucial role in consolidating memories and clearing out waste products that accumulate throughout the day. AstronauTx aims to enhance this clearance process to reduce the buildup of toxic proteins like tau and amyloid, which are associated with neurodegeneration. 

Ruth McKernan, co-founder and chair of AstronauTx, explained, "Our treatments will be oral drugs, applicable across multiple neurodegenerative conditions, offering both acute and chronic benefits."

AstronauTx is actively working towards selecting its first lead compound for pre-clinical development within a year, with clinical trials anticipated in three to four years. As a result, their products are unlikely to reach the market until the 2030s.

In recent times, two antibody-based drugs, donanemab from Eli Lilly and lecanemab from Biogen and Eisai, have shown promise in clinical trials by slowing memory loss and cognitive decline in Alzheimer's disease. However, both treatments require infusion and fall short of being a cure for dementia. 

David Reynolds asserted, "Our products will be complementary to the amyloid-lowering therapies. They will clear out not only amyloid but a whole range of toxins."

AstronauTx represents one of the Dementia Discovery Fund's 17 active investments. Laurence Barker, a partner in the fund, commented, "These companies are collectively pursuing drug discovery programmes against more than 40 different biological mechanisms across a range of neurodegenerative diseases that lead to dementia."