Draig Therapeutics Secures $65M Series B to Advance DT-101 Phase 2 Trials in Major Depressive Disorder
核心洞察
Draig Therapeutics (搜索) raised $65 million in an oversubscribed Series B round led by Deep Track Capital (搜索) to accelerate its neuropsychiatric pipeline.
The funding will support two Phase 2 trials of DT-101 (搜索), an oral AMPA receptor (搜索) positive allosteric modulator, as both monotherapy and adjunctive treatment for major depressive disorder (搜索).
DT-101 (搜索) aims to deliver rapid antidepressant effects with potential cognitive benefits by amplifying glutamate signaling rather than directly activating AMPA receptors.
Draig Therapeutics (搜索), a Cardiff University spinout pioneering new therapies for neuropsychiatric disorders, has closed a $65 million (£48.5 million) oversubscribed Series B equity financing round. The funding, led by new investor Deep Track Capital (搜索) with participation from Janus Henderson Investors, Marshall Wace, British Business Bank, and Jefferson Life Sciences, will accelerate the clinical development of the company's lead candidate DT-101 (搜索) for major depressive disorder (搜索) (MDD).
The Series B follows a $140 million (£107 million) Series A raised when Draig launched publicly in June 2025 — the largest ever secured by a Welsh firm. That earlier round was led by Access Biotechnology, alongside SV Health Investors, ICG, Canaan Partners, SR One, Sanofi Ventures, and Schroders Capital.
"This oversubscribed financing marks an exciting milestone for Draig as we continue to advance our transformative, best-in-class pipeline," said Ivana Magovcevic-Liebisch, president and chief executive of Draig Therapeutics (搜索). "Major depressive disorder (搜索) remains one of the largest unmet needs in medicine. 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."
DT-101: A Novel AMPA Receptor Modulator
DT-101 (搜索) is an oral positive allosteric modulator of AMPA receptors, which play a critical role in transmitting excitatory signals in the brain. Rather than activating the receptor directly, the molecule is designed to amplify the receptor's response to the neurotransmitter glutamate. Draig contends this mechanism could rebalance brain circuits implicated in depression while avoiding safety concerns associated with less selective AMPA modulation.
The company has reported early evidence of safety, tolerability, and target engagement from a Phase 1 study conducted in 60 healthy volunteers.
Two Parallel Phase 2 Trials Underway
Draig is currently evaluating DT-101 (搜索) in two distinct Phase 2 clinical programs. A global study, expected to enroll approximately 300 patients, is assessing the drug as a standalone treatment for MDD. A separate US-based study is evaluating DT-101 as an add-on to existing antidepressant therapy. Initial clinical readouts from both trials are anticipated in 2027.
Broader Pipeline and GABA-A Programs
Beyond DT-101 (搜索), Draig is developing highly selective modulators of GABA-A receptors, which regulate inhibitory signaling in the brain. The company has indicated plans to advance two of these programs, DT-201 and DT-301, toward the clinic in 2026, though initial indications have not been disclosed.
UK Pension Fund Backing
The British Business Bank's participation came through its British Growth Partnership Fund I, an investment vehicle backed by pension funds including Aegon, Cushon Master Trust, and M&G. This marks the first time the fund has been deployed to back a Welsh-based firm.
"Draig Therapeutics (搜索) is pioneering targeted therapies to tackle some of the most challenging neuropsychiatric disorders," said Charlotte Lawrence, managing director and head of direct equity at British Business Bank. "Through British Growth Partnership Fund I, we are deploying UK pension capital into a standout innovator with the capacity to become a global leader."
Dr. Carmine Circelli, senior investment director for life sciences at British Business Bank, added: "Innovations such as its DT-101 (搜索) programme and selective receptor modulators are highly promising next-generation approaches with strong therapeutic potential."
Competitive Landscape
Draig is not alone in pursuing AMPA modulation for depression. US-based Neurocrine Biosciences is conducting Phase 3 trials of osavampator, another AMPA receptor (搜索) potentiator, as an add-on treatment for patients whose MDD has not responded adequately to antidepressants. Separately, the psychedelic field is advancing in similar indications, with UK-based Compass Pathways developing its synthetic psilocybin treatment COMP360 in late-stage trials for treatment-resistant depression. Recent data from Compass suggest some patients maintained clinically meaningful improvements for six months following two supervised doses.
Draig was formed through a partnership between Cardiff University's Medicines Discovery Institute and SV Health Investors. Its name, meaning "dragon" in Welsh, reflects its origins outside the UK's traditional Oxford-Cambridge-London biotech cluster.