Goodwin Advises Draig Therapeutics on Closing Oversubscribed $65 Million Series B

The Life Sciences team advised Draig Therapeutics on 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. The proceeds will be used to accelerate development of Draig’s pipeline of highly specific AMPA and GABA_A receptor modulators which are designed to enable safe, precise modulation of the major neurocircuits underlying neuropsychiatric disorders.

Draig Therapeutics is a clinical-stage biopharmaceutical company focused on developing transformative, best-in-class neuropsychiatric therapies. Its pipeline of highly specific AMPAR and GABA_AR modulators modulators is designed to enable safe and precise modulation of the major neurocircuits underlying neuropsychiatric disorders. The company’s lead program, DT-101, is a Phase 2 AMPAR positive allosteric modulator (PAM) with the potential to be a best-in-disease treatment for major depressive disorder. Working in partnership with patients and their care partners, Draig Therapeutics is committed to transforming the future of neuropsychiatry. The company was co-founded by Cardiff University and SV Health Investors, which led the seed financing alongside ICG. Draig is also supported by several leading healthcare venture firms, including Access Biotechnology, Canaan Partners, SR One, Sanofi Ventures, and Schroders Capital.

The Goodwin team was led by Kenny Walker-Durrant, Kingsley Taft, Hattie Muncey, and Claudia Baldelli.

For more information on the deal, please read the press release and see coverage in Endpoints News.