Draig Therapeutics launches with $140 million

Draig Therapeutics, a clinical-stage company based in Cardiff, UK, and aiming to transform the treatment of neuropsychiatric diseases, today launched from stealth having raised a total of $140 million (£107 million) in the last nine months.

The oversubscribed Series A financing was led by Access Biotechnology, with participation from Canaan Partners, SR One, Sanofi Ventures, Schroders Capital along with seed investors SV Health Investors, which co-founded the company, and ICG.

“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,” said Liam Ratcliffe, head of access biotechnology. “Draig’s differentiated approach, which targets core mechanisms underlying these complex conditions, has the potential to deliver a real breakthrough for patients,” he noted.