Groton, Conn. – September 30, 2026 -- Astrocyte Pharmaceuticals Inc. has closed a $9.5 million Series B financing round to advance Phase 2 development of AST-004, its cerebroprotective therapy for concussion, traumatic brain injury (TBI) and stroke. The round brings total capital raised by the clinical-stage biotech, including grants, to $40 million.
DeepWork Capital leads financing with four new investors joining the round
The Series B was led by DeepWork Capital, with continued backing from existing investors and new participation from MintPharma Capital, Waterstar Capital, Dynagrow Capital and Angel Star Ventures. Jackson Streeter, M.D., Venture Partner at DeepWork Capital, said the firm has been impressed by the consistency of Astrocyte's science and the progress of its clinical programs.
Enrollment completes in Phase 2 STARFAST trial testing AST-004 in Australian Rules Football players
Astrocyte announced enrollment is now complete in the STARFAST trial, a randomized, double-blind, placebo-controlled Phase 2 study evaluating AST-004 in athletes who sustain concussions during competitive Australian Rules Football. The trial is measuring drug safety alongside objective blood biomarkers of brain injury and clinical concussion recovery outcomes. Topline results are expected this winter.
AST-004 has cleared two Phase 1 safety studies before advancing to Phase 2
AST-004 targets astrocytes, the brain's primary caretaker cells, to enhance their protective function during the metabolic stress following acute injury, aiming to prevent secondary brain damage and lasting neurological deficits. The drug's development has been supported by preclinical data across multiple acute brain injury models and multiple federal research awards.
CEO points to upcoming data from TBI and stroke trials following STARFAST
William Korinek, Ph.D., CEO of Astrocyte Pharmaceuticals, called this period a key value inflection point for the company, noting that STARFAST results will be followed by clinical data from trials in complicated mild TBI and acute ischemic stroke. The company plans to announce a non-clinical advisory board comprised of leaders in sports, marketing, media and business operations this fall.