GROTON, Connecticut, September 30, 2026
Astrocyte Pharmaceuticals Inc. has secured $9.5 million in Series B financing to advance the Phase 2 clinical development of AST-004, an investigational cerebroprotective therapy being developed for sports-related concussion, traumatic brain injury (TBI), and acute ischemic stroke. The financing comes as the clinical-stage biotechnology company completes enrollment in its STARFAST Phase 2 trial, which is evaluating AST-004 in athletes who experience concussion during competitive Australian Rules Football. The company said topline results from STARFAST are expected this winter. The Series B financing was led by DeepWork Capital, with continued participation from existing investors and new investment from MintPharma Capital, Waterstar Capital, Dynagrow Capital, and Angel Star Ventures. With the latest financing, Astrocyte Pharmaceuticals has received a total of $40 million in financing and grants to support its research and development programs.
AST-004 Advances Into Phase 2 Development
AST-004 is the company’s lead proprietary small-molecule therapy designed to support the brain’s natural protective and repair mechanisms following acute neurological injury. The investigational therapy targets astrocytes, cells that play an important role in maintaining and protecting neurons. According to Astrocyte Pharmaceuticals, AST-004 is designed to enhance astrocyte mitochondrial energy production through activation of adenosine A1/A3 receptors. By increasing energy availability within astrocytes, the company aims to strengthen intrinsic cerebroprotective mechanisms and help preserve brain function during the metabolic stress associated with acute injury. AST-004 has already completed two Phase 1 clinical safety studies and has now progressed into Phase 2 development, supported by preclinical research evaluating its potential across multiple models of acute brain injury.
STARFAST Trial Completes Patient Enrollment
A major development for Astrocyte Pharmaceuticals is the completion of enrollment in the Phase 2 STARFAST trial, which is focused on sports-related concussion. The study is a randomized, double-blind, placebo-controlled clinical trial involving athletes who sustain concussions while participating in competitive Australian Rules Football. Researchers are evaluating the safety of AST-004, along with its effects on objective blood biomarkers of brain injury and clinical measures associated with concussion recovery. The company expects topline STARFAST findings this winter, making the upcoming data an important milestone for the clinical development program. Astrocyte Pharmaceuticals is also advancing clinical programs investigating AST-004 in complicated mild traumatic brain injury and acute ischemic stroke, while continuing preclinical research in additional neurological indications.
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Funding Supports Broader Brain Injury Pipeline
The new $9.5 million Series B financing is intended to support continued clinical development of AST-004 and the company’s broader effort to develop therapies for acute neurological injuries. Astrocyte Pharmaceuticals is pursuing an approach centered on enhancing the brain’s intrinsic ability to respond to injury rather than focusing solely on treating downstream effects. The company believes this strategy could potentially address significant unmet medical needs associated with concussion, TBI, and stroke, although AST-004 remains investigational and its clinical benefits have not yet been established. The upcoming STARFAST results are expected to provide additional clinical information about the therapy’s safety and biological and clinical effects in patients with sports-related concussion. The company has stated that future clinical results from its complicated mild TBI and acute ischemic stroke programs will further contribute to understanding the potential application of AST-004 across different forms of acute brain injury.
Source: Astrocyte Pharmaceuticals press release
