Monument Therapeutics, a Manchester, UK-based precision neuroscience company, received a £1M equity investment from the Forster Foundation.
The company intends to use the funds to support the clinical development of MT1988, a novel treatment for the cognitive symptoms of schizophrenia.
Led by CEO Dr Jenny Barnett, Monument Therapeutics applies a novel drug development strategy, leveraging digital assessments of cognition to match patients with new pharmaceutical treatments. Lead asset MT1988 targets the cognitive symptoms of schizophrenia, which are extremely costly for society and profoundly impact the affected individuals and their quality of life.
Alongside this new investment, the company announced two new board appointments:
- Dr Randeep Grewal, who has served as a board observer at Monument representing angel investors since 2022, has been appointed as board Chair. Randeep brings extensive experience from his other roles as Chair of Bellevue Healthcare Trust and non-executive director of organisations including Hox Therapeutics, the Global Smaller Companies Trust and the Monks Investment Trust.
- David Ford, an experienced life sciences investor and former Managing Director at Prudential Capital Group and Intermediate Capital Group, also will join the board, as a new Investor Director.
FinSMEs
15/10/2024