Astronautx Ltd., of Reading, U.K., secured a £6.5 million (US$7.8 million) investment for a new approach to dementia therapeutics that will build on the work from the Alzheimer's Research UK UCL Drug Discovery Institute. The new money came from the Dementia Discovery Fund, a specialized venture capital fund. Astronautx aims to develop medicines designed to reset the behavior of astrocytes, crucial support cells in the brain.
Biovie Inc., of Los Angeles, revised the terms of its upcoming IPO. The firm plans to raise $15 million by offering 1.3 million shares at a price of $11.44. Biovie intends to trade under the ticker BIVI. Thinkequity is the sole bookrunner on the deal, expected to price this week.