Australia's Mentara launches with SPRIM backing to tackle Parkinson's dyskinesia
What's the deal? Mentara TherapeuticsDealroom has a profile for this one. Try Dealroom →, a Melbourne-based developer of neurological therapies, has raised an undisclosed early-stage round led by SPRIM Global InvestmentsDealroom has a profile for this one. Try Dealroom →. Former shareholders of EuMentis Therapeutics joined through an equity roll-over, becoming shareholders in the new company.
What's the endgame? Mentara launched by acquiring the global rights to EM-221 — now MTA-304 — from EuMentis. The drug is a second-generation PDE10A inhibitor aimed at levodopa-induced dyskinesia (LID) in Parkinson's patients.
Why now? Levodopa remains the most effective Parkinson's treatment, but 40–50% of long-term patients develop dyskinesia, involuntary movements, within four to six years. The only US-approved therapy, amantadine ER, carries side effects such as hallucinations and dizziness, leaving patients to trade symptom control for disabling movements.
MTA-304 has completed three Phase 1 studies in 86 subjects with a favourable safety profile. In a primate model, it cut dyskinesia by 40% without reducing levodopa's benefit.
What's the money for? Mentara plans to advance its portfolio, scale manufacturing, and start a Phase 2 LID study in the first half of 2027. "With a dedicated company and initial investors behind it, we can move quickly to answer the question that matters to patients in Phase 2," said chief executive officer Frank Stonebanks.
Stonebanks led EuMentis for the past 18 months and brings more than 25 years in biotech and venture capital. He previously ran Renibus Therapeutics, where he raised more than $140 million, and founded TriphaseDealroom has a profile for this one. Try Dealroom →, later acquired by CelgeneDealroom has a profile for this one. Try Dealroom →.
The signal: Mentara is a clean spin-out built around a single de-risked asset — EuMentis has been wound down now the deal has closed. It is a bet that a focused company can push a Phase 1-ready drug through to proof in a market with few options.
Read more: finsmes.com, prnewswire.com
Image credit: Mentara Therapeutics
