Draig Therapeutics has secured £107m ($140m) in an oversubscribed Series A financing round to advance its portfolio of next-generation therapies to treat major neuropsychiatric disorders.
The investment was led by Access Biotechnology and saw contributions from Canaan Partners, SR One, Schroders Capital and Sanofi Ventures.
The round also included SV Health Investors as seed investors and intermediate capital group.
The investment will be used to advance the company's lead candidate, DT-101, into Phase II trials for major depressive disorder (MDD).
DT-101 was developed to facilitate alpha-amino-3-hydroxy-5-methyl-4-isooxazole-propionic acid (AMPA) receptor modulation while ensuring that safety is not compromised.
This was evidenced by data from a Phase Ia programme involving more than 60 subjects, which showed target engagement through the magnetoencephalography technique.
Draig was established through a partnership between Cardiff University’s Medicines Discovery Institute and SV Health Investors.
Access Biotechnology head Liam Ratcliffe stated: “Despite numerous treatments available for neuropsychiatric disorders, a significant unmet need remains with many patients continuing to experience inadequate symptom relief and high rates of relapse.
“Draig’s differentiated approach, which targets core mechanisms underlying these complex conditions, has the potential to deliver a real breakthrough for patients.”
As well as advancing DT-101, the new capital injection will also support the progression of two gamma-aminobutyric acid type A (GABAA) receptor modulators towards clinical trials in 2026.
These compounds have the potential for addressing a spectrum of neuropsychiatric disorders that currently lack adequate treatment options.
Draig co-founder and executive chair and SV Health Investors operating partner Ruth McKernan stated: “Making the best molecules to rebalance brain networks has been John and Simon’s life work. It has been a professional highlight for me to be part of creating this hugely promising company too.”
