DT-101

Clinical-stage neuropsychiatry startup Draig Therapeutics emerged from stealth on Wednesday following a £107 million ($140 million) oversubscribed series A financing completed over nine months.The megaround was led by Access Biotechnology, with participation from Canaan Partners, SR One, Sanofi Ventures and Schroders Capital, alongside seed investors SV Health Investors and ICG. The company — established last year through a partnership between Cardiff University's Medicines Discovery Institute and SV Health Investors — is looking to utilise the funds to advance its lead AMPA receptor positive allosteric modulator, dubbed DT-101, into Phase II testing for major depressive disorder later this year. The asset previously demonstrated target engagement in a Phase Ia trial involving over 60 subjects, with data scheduled for presentation at an upcoming scientific meeting.Draig, which specialises in modulating the glutamate and GABA pathways, noted the financing will also support the advancement of two highly selective GABAA receptor modulators towards clinical development in 2026.Highlighting an unmet treatment need in neuropsychiatric disorders, Liam Ratcliffe, head of Access Biotechnology, said “Draig's differentiated approach, which targets core mechanisms underlying these complex conditions, has the potential to deliver a real breakthrough for patients."Co-founded by leading academicians at Cardiff University — John Atack and Simon Ward — the company’s leadership team includes several industry veterans who have previously worked at Bristol Myers Squibb, Karuna Therapeutics, Roche and Biogen.