The funding round was led by DeepWork Capital, with additional backing from MintPharma Capital, Waterstar Capital, Dynagrow Capital, and Angel Star Ventures. These resources are earmarked for the ongoing development of AST-004, a novel therapy designed to target astrocytes—the brain's primary caretaker cells—to mitigate secondary damage following acute trauma.

The drug is currently being evaluated in the STARFAST trial, a randomized, double-blind study involving athletes who sustained concussions during Australian Rules Football. Researchers are tracking the treatment’s impact on blood biomarkers and clinical recovery metrics. According to CEO William Korinek, the company is approaching a critical juncture, with data from this trial and upcoming studies on ischemic stroke expected to establish the drug's efficacy across various neurological injuries. Jackson Streeter, a venture partner at DeepWork Capital, noted that the firm remains confident in the consistency of the science behind the therapy, which aims to become the first drug specifically approved for concussion and traumatic brain injury management.