Co-founders Dr Greg Stewart, Associate Professor Jess Nithianantharajah and Professor Chris Langmead
Founded in 2022, Phrenix Therapeutics 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 its co-founders from the Monash Institute of Pharmaceutical Sciences (MIPS), Professor Chris Langmead (Chief Executive Officer) and Dr Greg Stewart (Chief Scientific Officer), and The Florey, Associate Professor Jess Nithianantharajah (VP, Translational Biology), the company is primarily focussed on developing new medicines for psychosis and cognitive impairments associated with schizophrenia, and this new funding will enable Phrenix to bring an 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 Mike Ryan, Interim Deputy Vice-Chancellor (Research and Enterprise) and Senior Vice-President at Monash University, said the funding reflects the university's strength in translational research and commercialisation. "Monash leads Australia for industry research investment - our strong partnerships help us deliver positive impact to the world. This investment is pivotal for Phrenix as they scale up in Melbourne and in the US to translate research innovation into commercial endpoints that will ultimately deliver better outcomes for those living with psychiatric and neurological disorders."
Dr Alastair Hick, Chief Commericalisation Officer, Monash University said: "This announcement demonstrates the investment community's recognition of the potential impact of Phrenix Therapeutics in addressing significant health challenges, as well as Monash Innovation's expertise and support to take innovative research from the lab to clinical application."
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."
Associate Professor Nithianantharajah said: "At Phrenix, we are driven by the urgent need for new and effective treatments for brain and mental health conditions. This funding will accelerate our research, translating cutting-edge neuroscience into real-world solutions that have the potential to transform lives. We are excited to take this critical step forward in reimagining how we develop next-generation medicines for brain and mental health."
Phrenix Therapeutics was supported by the Medical Research Future Fund (MRFF) CUREator scheme as an early-stage biomedical innovation with long-term potential in 2022, and has also been a recipient of funding from Therapeutic Innovation Australia, which is supported by the Australian Government through the National Collaborative Research Infrastructure Strategy (NCRIS) program, with Monash support via Monash Research Impact Fund (MRIF), and also initial investment and follow on rounds by Monash Investment Holdings (MIH).
Phrenix Therapeutics operates in partnership with Monash University and The Florey.
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.
