Funding news · Oct 7, 2026
Mentara Therapeutics Raises Seed Funding Backed by SPRIM Global Investments
Mentara Therapeutics Secures Seed Funding
Mentara Therapeutics, an Australia-based neuropsychiatry company, has raised a Seed round, according to funding data dated October 7, 2026. The round is backed by SPRIM Global Investments.
What the Company Does
Mentara Therapeutics is focused on developing treatments for neurodegenerative and neuropsychiatric disorders. The company's pipeline is anchored by its lead asset, MTA-304.
MTA-304 is described as a highly selective second-generation PDE10A inhibitor. The asset was acquired from EuMentis Therapeutics. Mentara is developing MTA-304 for levodopa-induced dyskinesia in Parkinson's disease.
Development Timeline
The company has a Phase 2 study planned to begin in the first half of 2027. That timeline places Mentara at a clinical-stage inflection point, with the lead program advancing toward a mid-stage trial in a neurological indication.
Leadership and Backing
Mentara Therapeutics is led by CEO Frank Stonebanks. The company is backed by SPRIM Global Investments, the investor named in this Seed round.
Round Details
- Round type: Seed
- Funding date: October 7, 2026
- Investor: SPRIM Global Investments
- Currency: USD
Why It Matters
Levodopa-induced dyskinesia remains a significant complication for Parkinson's disease patients on long-term levodopa therapy. A selective second-generation PDE10A inhibitor targeting this indication represents a differentiated approach within the neuropsychiatry space.
For observers tracking early-stage neuropsychiatry assets, Mentara combines an in-licensed clinical candidate with a defined development milestone: the planned Phase 2 study in the first half of 2027. The Seed backing from SPRIM Global Investments provides the company with a named institutional supporter as it works toward that trial.
Summary
Mentara Therapeutics, based in Australia, has closed a Seed round backed by SPRIM Global Investments. The company is developing MTA-304, a second-generation PDE10A inhibitor acquired from EuMentis Therapeutics, for levodopa-induced dyskinesia in Parkinson's disease, with a Phase 2 study planned for the first half of 2027. The company is led by CEO Frank Stonebanks.