AstronauTx raises $61 million in series A funding

AstronauTx, a London-based biotechnology company that aims to develop small-molecule drugs for neurodegenerative diseases, has closed a $61 million series A financing round led by the Novartis Venture Fund. AstronauTx focuses on restoring the function of brain cells called astrocytes. These are more numerous than neurons and play important roles in brain immunity and inflammation. The company is planning a clinical trial of its lead drug candidate, which it has not disclosed, in people with Alzheimer’s disease.

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