Monument Therapeutics Secures 1M Investment to Fund Its Schizophrenia Programme And Drive Next Stage of Growth | PR Newswire [Video]

, /PRNewswire/ — Monument Therapeutics, a precision neuroscience company, today announced a further £1M equity investment by the Forster Foundation, a charitable incorporated organisation. The new investment builds on equity and non-dilutive funding announced in April 2024 and will support the clinical development of MT1988, a novel treatment for the cognitive symptoms of schizophrenia.  Cognitive impairment associated with schizophrenia significantly impact patients’ quality of life and presents a substantial unmet medical need and economic burden. Monument’s treatment MT1988 is complementary to existing drugs for schizophrenia, including the newly-approved drug Cobenfy, which was originally developed by Karuna Therapeutics and acquired by Bristol Myers Squibb last year for $14 billion.

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 …