Cardiff University spin-out Draig Therapeutics has been awarded £107m ($140m) investment from leading international venture investors to advance the development of novel therapies for major neuropsychiatric disorders such as major depressive disorder
The research is based on the expertise of Professor John Atack and Professor Simon Ward from Cardiff University’s Medicines Discovery Institute, and Draig Therapeutics will translate the latest research into new neuropsychiatric drug treatments.
Draig Therapeutics will target Glutamate and GABA pathways, two key brain processes, to develop new and more effective treatment options.
Professor Simon Ward, Cardiff University’s Medicines Discovery Institute and Draig Therapeutics, said: “We have unique scientific expertise in safely and effectively modulating the core Glutamate and GABA pathways in the brain, which play a critical role in neuropsychiatric disorders. Our knowledge of balancing the chemical neurotransmitters in the brain in neuropsychiatric conditions underpins Draig’s pipeline of novel treatments.”
New hope for neuropsychiatric disorder treatments
The £107m will enable Draig Therapeutics to advance its lead candidate drug, DT-101, into Phase 2 trials in 2025 for the treatment of Major Depressive Disorder. Furthermore, the funding will advance two other drugs towards clinical development in 2026, with best-in-class potential across a range of neuropsychiatric disorders.
Liam Ratcliffe, Head of Access Biotechnology, said: “Despite numerous treatments available for neuropsychiatric disorders, a significant unmet need remains with many patients continuing to experience inadequate symptom relief and high rates of relapse. Draig’s differentiated approach, which targets core mechanisms underlying these complex conditions, has the potential to deliver a real breakthrough for patients.”
“Making the best molecules to rebalance brain networks has been John and Simon’s life work. It has been a professional highlight for me to be part of creating this hugely promising company,” added Ruth McKernan, co-founder and Executive Chair of Draig.
Driving significant investment into the Welsh Economy
The Medicines Discovery Institute, launched at Cardiff University in 2017, is a key player in the development of Draig Therapeutics. Supported by funding from the European Regional Development Fund through the Welsh Government’s Sêr Cymru scheme, its mission is to translate the latest biomedical research into new therapies. The Institute has also received significant investment from the Wellcome Trust, Medical Research Council, Medr (formerly the Higher Education Funding Council for Wales), and the Wolfson Foundation.
Draig was formed through a powerful partnership between Cardiff University’s Medicine Discovery Institute and SV Health Investors and was founded in 2024. The investment, led by Access Biotechnology, alongside SV Health Investors and ICG, and includes Canaan Partners, SR One, Sanofi Ventures, and Schroders Capital, demonstrates the collective effort in advancing neuropsychiatric drug development.
Professor Roger Whitaker, Pro Vice-Chancellor for Research, Innovation and Enterprise at Cardiff University, said: “Draig Therapeutics is an excellent example of how our research ecosystem is driving innovation-led growth and real-world commercialisation. In collaboration with government, the private sector and other stakeholders, we look forward to further building on this success to strengthen the sector’s wider role in driving inward investment to Wales.”
“Translating our fundamental research into innovative solutions for global challenges is at the heart of what we do. Combined with support for innovation, it is essential to remember just how vital Sêr Cymru and other targeted research funding initiatives have been in making a step change for Wales. Together, we can do much more,” added Professor Roger Whitaker.
