TIA’s Pipeline Accelerator Helps Phrenix Therapeutics Secure Major Investment for Psychiatric Drug Development
Phrenix Therapeutics, a biotech company developing next-generation medicines for psychiatric and neurological disorders, has secured seed investment from Curie.Bio (US) and Brandon Capital (Australia).
Therapeutic Innovation Australia (TIA) is proud to have supported Phrenix Therapeutics through the Pipeline Accelerator scheme, enabling access to two TIA’s critical research infrastructure – the Australian Translational Medicinal Chemistry Facility (ATMCF) and Centre for Drug Candidate Optimisation (CDCO) – and advance its innovative drug discovery efforts. This support from TIA, alongside Medical Research Future Fund (MRFF) CUREator scheme, Monash Research Impact Fund (MRIF), and Monash Investment Holdings (MIH), has contributed to the company’s growth and positioned it to secure major investments from global venture capital firms.
Founded in 2022, Phrenix is the first spinout from Monash University’s Neuromedicines Discovery Centre (NDC), in partnership with The Florey Institute of Neuroscience and Mental Health.
Led by co-founders Professor Chris Langmead (CEO), Dr Greg Stewart (CSO), and Associate Professor Jess Nithianantharajah (VP, Translational Biology), the company focuses on developing treatments for psychosis and cognitive impairments associated with schizophrenia. This funding will help bring its 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.
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.”
About TIA’s Pipeline Accelerator
The Pipeline Accelerator scheme was introduced to further reduce the cost of access to a specific capability for therapeutic development projects. It is a competitive scheme that provides up to $50,000 with at least 50% matching funding (co-investment) by applicants.
This scheme runs every six months to provide rapid access to promising early-stage therapeutic development projects.
About Phrenix Therapeutics
Phrenix Therapeutics is reimagining neuroscience drug discovery, building a pipeline of highly targeted therapeutics for cognitive, psychiatric, and neurological disorders, led by a flagship program for schizophrenia. By combining state-of-the-art drug discovery technologies and clinically-relevant neurobehavioral testing, Phrenix is addressing the needs of millions of people worldwide living with complex psychiatric and neurological conditions.
