Draig Therapeutics Launches with $140M Funding for Neuropsychiatric Therapies

Draig Therapeutics, a forward-thinking clinical-stage company, has emerged from stealth mode with a significant financial boost, having secured $140 million in funding over the past nine months. This funding round, led by Access Biotechnology, saw contributions from a range of investors including Canaan Partners, SR One, Sanofi Ventures, and Schroders Capital, alongside founding investors SV Health Investors and ICG. The funds are earmarked to support four pivotal clinical trials, with two focusing on their leading candidate, DT-101, for Major Depressive Disorder, and two more addressing other promising programs.

Founded through a collaboration between Cardiff University's Medicines Discovery Institute and SV Health Investors, Draig Therapeutics has attracted a formidable team of scientific and industry experts. Professors John Atack and Simon Ward, pivotal figures in the company, have made significant strides in understanding and modulating the brain's core glutamate and GABA pathways. This scientific foundation underpins Draig's innovative pipeline of drug candidates aimed at revolutionizing treatments for neuropsychiatric disorders.

DT-101, a next-generation AMPA receptor positive allosteric modulator, stands at the forefront of Draig's offerings. Initial Phase 1a trials involving over 60 subjects have demonstrated its potential, showcasing effective modulation of the AMPA receptor with a strong safety profile. The upcoming Phase 2 trials scheduled for 2025 are anticipated to further validate its efficacy and safety for treating Major Depressive Disorder.

Draig's ambition extends beyond DT-101. The company is set to push forward two highly selective GABA receptor modulators, which show promise for a range of neuropsychiatric disorders. These developments are part of Draig's broader strategy to address significant unmet needs in the field of neuropsychiatry.

The leadership team at Draig is composed of seasoned professionals with extensive experience in the biotech and pharmaceutical industries. Ruth McKernan, Executive Chair and Co-Founder, emphasizes the potential of the company’s scientific approach and the strategic advantages of its leadership team. The executive lineup includes Inder Kaul as Chief Medical Officer, Florian Islinger as Chief Commercial Strategy Officer, and David Watson as Chief Operating Officer, each bringing valuable industry insights and experience.

Draig is not just about innovative treatments but also about building a robust platform for long-term impact in the field of mental health. The company’s name, derived from the Welsh word for 'dragon,' pays homage to its roots in Cardiff, Wales, and symbolizes its commitment to pioneering new frontiers in medical science.

This phase of growth marks an exciting chapter for Draig Therapeutics. With strong backing from a consortium of knowledgeable investors and a world-class scientific team, the company is well-positioned to make significant contributions to the treatment landscape for neuropsychiatric disorders. As the company advances its pipeline, it continues to attract attention for its potential to deliver groundbreaking therapies that could transform patient outcomes globally.