TLDR:
Key Points:
- Engrail Therapeutics has secured USD 157 million in Series B funding led by F-Prime Capital, Forbion, and Norwest Venture Partners.
- The funding will support the advancement of the company’s pipeline through multiple stages of clinical development.
Engrail Therapeutics, a precision neuroscience company, announced that it raised USD 157 million in a Series B round co-led by F-Prime Capital, Forbion, and Norwest Venture Partners. Other investors, including Eights Road Ventures, RiverVest Venture Partners, and Red Tree Venture Capital, also participated in the funding round. This brings the total amount raised by the company to over USD 220 million, with a previous funding round of USD 64 million in August 2021.
The raised funds will be used to propel the advancement of the company’s pipeline through various stages of clinical development. Vikram Sudarsan, President and CEO of Engrail Therapeutics, expressed confidence in delivering value-creating milestones and completing ongoing studies in generalised anxiety disorder. The company aims to develop therapies for various diseases, including anxiety disorders, depression, posttraumatic stress disorder, and rare neurodegenerative diseases.
As part of the funding deal, key investors have joined Engrail’s board of directors. Founded in 2019, the company is led by experienced professionals in the field and has a global team dedicated to developing innovative therapies for neuropsychiatric and neurodevelopment diseases. With a strong financial backing from leading life science investors, Engrail Therapeutics is poised to make significant advancements in the field of precision neuroscience.
