Draig Therapeutics Closes Oversubscribed $65 Million Series B to Accelerate Development of Highly Specific AMPA and GABAA Receptor Modulators in Neuropsychiatric Disorders
Financing led by new investor, Deep Track Capital with participation from Janus Henderson Investors and Marshall Wace among other investors
Proceeds will support accelerated clinical advancement of company’s pipeline, including lead program DT-101, an AMPA receptor potentiator designed to address significant unmet need in major depressive disorder
Draig Therapeutics, a clinical-stage biopharmaceutical company developing transformative, best-in-class neuropsychiatric therapies, today announced the closing of an oversubscribed $65 million Series B financing. The 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.”
