- Established to develop new treatments for Major Neuropsychiatric Disorders, including Major Depressive Disorder (MDD)
- ICG Life Sciences, together with SV Health Investors, provided seed funding in September 2024 to spin the Company out from Cardiff University
- Outstanding syndicate of Series A investors led by Access Biotechnology join seed investors ICG and SV Health Investors
Draig Therapeutics (“Draig” or “the Company”) today announced its launch as a clinical stage neuropsychiatry company, developing differentiated small molecules for Major Neurospychiatric Disorders, with the close of an oversubscribed Series A, led by Access Biotechnology. ICG Life Sciences Venture Partner Dr Samantha Budd Haeberlein will join the Company’s board of directors.
This new investment will be leveraged to conduct the Phase II studies in MDD for Draig’s lead candidate, DT-101, an AMPA receptor positive allosteric modulator (AMPAR PAM) that has demonstrated safety, tolerability and target engagement data in Phase I trials. The funding also enables Draig to advance two highly selective GABAA receptor modulators towards clinical development in 2026, with best-in-class potential across a range of prevalent and underserved neuropsychiatric disorders.
ICG Life Sciences and SV Health Investors provided seed funding to establish Draig as a standalone company in September 2024, initially addressing the gap in the treatment of MDD. MDD is one of the top three global disease burdens, making it a critical therapeutic focus area. ICG supported the Company’s transition from academia to a commercially driven, clinical-stage biotech company and, as part of this value-add approach, Dr Samantha Budd Haeberlein served as interim Chief Medical Officer until May 2025, helping to define the clinical strategy and establish a strong foundation for long-term development.
This partnership aligns with ICG’s strategy of supporting high-potential clinical-stage companies in areas of significant unmet need, with Draig joining a portfolio of companies including CuraSen Therapeutics, a previous neuroscience investment by the ICG Life Sciences team.
Dr Allan Marchington, Head of ICG Life Sciences, said:
We are excited to announce the launch of Draig Therapeutics – and are committed to supporting the Company in executing on its long-term growth plans to bring the next new MDD treatment to market. Creating new life sciences companies such as Draig forms a cornerstone of our ICG Life Sciences strategy and exemplifies our vision of building leading clinical stage companies that aim to meet global unmet medical needs.
Dr Samantha Budd Haeberlein, Venture Partner, ICG Life Sciences, said:
Having closely observed the innovation Draig has unlocked to date, we have strong conviction that its novel AMPAR PAM solution and other candidates are poised to play a transformational role in the future treatment of neuropsychiatric disorders. In serving as interim Chief Medical Officer, and working closely with management around the spinout, I have been impressed by the deep expertise and commitment exhibited by management, and we could not be happier to continue partnering with Draig through this next phase of its growth journey.
Dr Ruth McKernan, Operating Partner at SV Health Investors, Co-Founder and Executive Chair of Draig Therapeutics, said:
The creation of Draig Therapeutics is a career highlight for me and a tribute to the drug discovery talents of Drs Atack and Ward who I have worked closely with over many years. Today’s Series A financing from a really strong investor syndicate marks an important milestone for the company to continue to shape the clinical progress made by Draig’s founding team and gives us an incredible opportunity to take our lead programme further into the clinic and to advance two additional programmes.
– ENDS –
For further information please contact:
Clare Glynn
Head of Corporate Communications
+44 20 3545 1395
[email protected]
Maisie Le Masurier
Corporate Communications
+44 20 3545 1624
[email protected]
About ICG
ICG (LSE: ICG) is a global alternative asset manager with $112bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets. Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn.
*As at 31 March 2025.
About Draig Therapeutics
Draig Therapeutics is a clinical-stage company with a mission to transform treatments in Neuropsychiatry. The company is leveraging its founders’ unique scientific expertise in modulating the core glutamate / GABA pathways that play a critical role in neuropsychiatric diseases to advance a pipeline of groundbreaking therapies designed to address large unmet patient needs, including in Major Depressive Disorder (MDD).
Draig is the Welsh word for ‘dragon’ and it reflects the company’s origins in Wales. The name and logo were inspired by this heritage, reflecting its scientific roots stemming from Cardiff University.
Draig was co-founded by Cardiff University and SV Health Investors, which led the seed financing with ICG, and is backed by other leading healthcare venture firms including Access Biotechnology, Canaan Partners, SR One, Sanofi Ventures and Schroders Capital. For more information, please visit www.draigtherapeutics.com.
Back