Draig Therapeutics Raises $65 Mn in Series B Round

The funding round was led by Deep Track Capital, with participation from Janus Henderson Investors, Marshall Wace, British Business Bank, and Jefferson Life Sciences.

“This oversubscribed financing from an exceptional group of new investors marks an exciting milestone for Draig as we continue to advance our transformative, best-in-class pipeline,” said Ivana Magovčević-Liebisch, PhD, JD, President and Chief Executive Officer of Draig Therapeutics. “Major depressive disorder remains one of the largest unmet needs in medicine. Our next-generation AMPA receptor modulator, DT-101, has shown encouraging safety, tolerability and target engagement data and displays a pulsatile pharmacokinetic profile which gives us real conviction in its potential. This new financing will enable us to accelerate the development of our pipeline and bring us closer to our ultimate goal: to restore the brain to a healthier state and enable patients to live their best lives.”

“Draig’s laser-focused execution is a testament to the strength of not only its science, but also its team. In less than two years, the Company has built an international organisation of dedicated individuals, initiated two Phase 2 trials in MDD and advanced its broader pipeline towards the clinic. We are excited to partner with Draig as they continue to advance their best-in-class neuromodulators of validated molecular targets with potential to address significant unmet medical needs," said Rebecca Luse, Managing Director at Deep Track Capital.

Founded in 2024 by Ruth McKernan and John Atack, Draig Therapeutics is a clinical-stage biopharmaceutical company developing new treatments for mental health and neurological disorders. Its goal is to create safer and more effective therapies for people with neuropsychiatric conditions.

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The company's lead drug candidate, DT-101, is currently in Phase 2 clinical trials for major depressive disorder. Draig works closely with patients and healthcare partners to develop better treatment options for mental health.