- Phrenix Therapeutics has secured significant seed investment from US-based Curie.Bio and Australia-based Brandon Capital.
- Researchers from The Florey and Monash University lead the biotech spinout company focused on developing new medicines for schizophrenia.
Advancing new therapeutics for psychiatric disorders
Phrenix Therapeutics, a cutting-edge biotech company focused on next-generation medicines for psychiatric and neurological disorders, has secured significant seed investment from specialist biotech venture capital firms Curie.Bio (US) and Brandon Capital (Australia).
Founded in 2022, Phrenix Therapeutics is the first spinout from Monash University’s Neuromedicines Discovery Centre (NDC), in partnership with The Florey.
Led by its co-founders from the Monash Institute of Pharmaceutical Sciences (MIPS), Professor Chris Langmead (Chief Executive Officer) and Dr Greg Stewart (Chief Scientific Officer), and The Florey, Associate Professor Jess Nithianantharajah (VP, Translational Biology), the company is primarily focused on developing new medicines for psychosis and cognitive impairments associated with schizophrenia, and this new funding will enable Phrenix to bring an innovative pipeline closer to clinical application.
The company’s approach leverages a unique combination of state-of-the-art drug discovery technologies, and clinically-relevant neurobehavioral testing, reflecting the grand challenge of developing new treatment options for patients experiencing psychiatric or neurological disorders such as schizophrenia.
The Florey’s Executive Director & CEO, Professor Peter van Wijngaarden, said it is tremendous to see leading Australian and US venture capital funds uniting to support the development of next-generation treatments for brain and mental health conditions.
Phrenix is the result of a visionary collaboration between Monash University and The Florey, and we look forward to continuing this partnership to move discoveries from the laboratory to the clinic to improve lives.
Associate Professor Nithianantharajah said: “At Phrenix, we are driven by the urgent need for new and effective treatments for brain and mental health conditions. This funding will accelerate our research, translating cutting-edge neuroscience into real-world solutions that have the potential to transform lives. We are excited to take this critical step forward in reimagining how we develop next-generation medicines for brain and mental health.”
Professor Langmead said: “The foundational research and early successes of Phrenix Therapeutics were due to a meeting of minds and mission between the three co-founders, supported by Monash University and The Florey. This investment brings scale, acceleration, and deep expertise from our partners at Curie.Bio and Brandon Capital. It gives Phrenix the best possible chance to progress our programs into the clinic and make a real difference to the lives of individuals, families and communities.”
Phrenix Therapeutics was supported by the Medical Research Future Fund (MRFF) CUREator scheme as an early-stage biomedical innovation with long-term potential in 2022, and has also been a recipient of funding from Therapeutic Innovation Australia, which is supported by the Australian Government through the National Collaborative Research Infrastructure Strategy (NCRIS) program, with Monash support via Monash Research Impact Fund (MRIF), and also initial investment and follow on rounds by Monash Investment Holdings (MIH).
Phrenix Therapeutics operates in partnership with Monash University and The Florey.
