Astrocyte Pharmaceuticals Raises $9.5M Series B Led by DeepWork Capital

Astrocyte Pharmaceuticals Closes $9.5M Series B

Astrocyte Pharmaceuticals, a clinical-stage biotechnology company based in Groton, Connecticut, has raised $9.5 million in Series B funding. The round was led by DeepWork Capital and announced on September 30, 2026.

What Astrocyte Pharmaceuticals Does

The company develops first-in-class cerebroprotective therapies targeting astrocytes — the brain's caretaker cells — to enhance the brain's natural ability to protect and repair itself after acute injury.

Its lead candidate, AST-004, has completed two Phase 1 safety studies and is advancing through Phase 2 development for:

• Concussion
• Traumatic brain injury
• Acute ischemic stroke

The company's work is supported by multiple federal research awards, including NIH grants.

Deal Details

• Round type: Series B
• Amount: $9.5 million
• Lead investor: DeepWork Capital
• Participating investors: MintPharma Capital, Waterstar Capital, Dynagrow Capital, Angel Star Ventures
• Announced: September 30, 2026

Why It Matters

Astrocyte Pharmaceuticals is pursuing a differentiated mechanism in acute neurological injury — targeting astrocytes rather than neurons directly. That approach, if validated in Phase 2, could apply across multiple indications with significant unmet need, including traumatic brain injury and stroke.

The presence of a syndicate spanning venture funds and angel groups suggests continued confidence in the clinical path for AST-004. Federal support through NIH grants adds non-dilutive validation of the underlying science.

What to Watch

• Phase 2 readouts for AST-004 across concussion, TBI, and acute ischemic stroke
• Additional federal funding awards
• Potential partnership interest from larger neurology-focused biopharma companies
• Expansion of the investor syndicate in future rounds

Astrocyte Pharmaceuticals has not disclosed a valuation or total capital raised to date.