Mid-stage neuroscience startup Engrail raises $157M
19 Mar 2024
Acquisition
Engrail Therapeutics is riding a neuroscience tailwind.
Last year as it set out to raise its latest fundraising round, the startup originally targeted $100 million to move its pipeline forward. But a series of recent multibillion-dollar acquisitions and large financings in neuroscience boosted interest in the space, and the San Diego company wound up closing a $157 million Series B on March 14.
“That’s a luxurious position to be in, in this difficult environment,” CEO Vikram Sudarsan said in an interview with
Endpoints News
. The money will go toward a mid-stage test in generalized anxiety disorder and earlier clinical studies in depression and other psychiatric indications, supporting the company through the first half of 2026, Sudarsan said.
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