Astrocyte Pharmaceuticals gets $6M to advance novel brain injury therapeutic

A Boston-area clinical stage drug discovery and development company announced $6 million in pre-Series B bridge financing to advance a novel cerebroprotectant therapeutic intended to treat a broad range of acute brain injuries.

According to a release from Astrocyte Pharmaceuticals, the financial infusion, which was led by Dreavent Capital in conjunction with the Alzheimer’s Drug Discovery Foundation, is expected to accelerate clinical development of AST-004, which also may show potential for treatment of neurodegenerative conditions such as Alzheimer’s disease.

“There are millions of patients living with brain injuries worldwide who face limited treatment options for these devastating conditions,” William Korinek, PhD, CEO, Astrocyte Pharmaceuticals, stated in the release. “With this additional funding, we are poised to accelerate the clinical development of AST-004 and move one step closer to proving this novel approach can benefit patients in dire need.”

Astrocyte also revealed in its release that phase 1b clinical safety studies of AST-004 are underway, with plans to launch phase 2 efficacy studies in 2024.

“Finding innovative ways to target inflammation in the brain will play an important role in the future of combination therapy and precision medicine for Alzheimer’s disease,” Howard Fillit, MD, cofounder and chief science officer, Alzheimer’s Drug Discovery Foundation, said in the release. “Astrocyte’s approach using AST-004 holds promise for reducing astrocyte-induced excess inflammation.”