Draig Therapeutics Closes $65 Million Series B To Advance AMPA And GABAA Receptor Modulators In Neuropsychiatric Disorders
By Amit Chowdhry ● Yesterday at 8:54 AM
Draig Therapeutics, a clinical-stage biopharmaceutical company co-founded by Cardiff University and SV Health Investors and headquartered across Newton, Massachusetts and Cardiff, United Kingdom, has closed an oversubscribed $65 million Series B financing. The round was led by new investor Deep Track Capital, with participation from Janus Henderson Investors, Marshall Wace, British Business Bank and Jefferson Life Sciences, joining existing backers SV Health Investors, ICG, Access Biotechnology, Canaan Partners, SR One, Sanofi Ventures and Schroders Capital. Proceeds will be used to accelerate clinical development of the company's pipeline of highly specific AMPA receptor and GABAA receptor modulators.