Precision neuroscience company Engrail Therapeutics has secured $157 million in a Series B funding round, bringing its total raised capital to over $220 million. The funding will support the development of transformative therapies for neuropsychiatric and neurodevelopmental diseases.
Engrail Therapeutics Raises $157 Million in Series B Funding
( Credit to: Entrepreneur )
Engrail Therapeutics, a precision neuroscience company, has successfully raised $157 million in a Series B funding round. The round was co-led by F-Prime Capital, Forbion, and Norwest Venture Partners, with participation from Eights Road Ventures, RiverVest Venture Partners, and Red Tree Venture Capital. This latest funding brings Engrail's total raised capital to over $220 million since its inception.
The funding will be instrumental in advancing Engrail's pipeline of transformational therapies through various stages of clinical development. The company aims to develop therapies for patients with neuropsychiatric and neurodevelopmental diseases, focusing on areas such as anxiety disorders, depression, posttraumatic stress disorder, and rare neurodegenerative diseases.
Supporting Neuropsychiatric and Neurodevelopmental Disease Research
Engrail Therapeutics is dedicated to developing innovative therapies for patients with unmet medical needs in the field of neuropsychiatry and neurodevelopment. With a team spread across Europe, India, and the United States, Engrail Therapeutics is poised to make significant contributions to the field of precision neuroscience.
The successful funding round is a testament to the confidence and support Engrail Therapeutics has garnered within the industry. With the newfound financial resources, the company is well-positioned to accelerate its research and development efforts, bringing much-needed therapies to patients suffering from debilitating neuropsychiatric and neurodevelopmental diseases.
Experienced Investors Join Engrail's Board of Directors
As part of the funding deal, several representatives from the leading investment firms have joined Engrail's board of directors. Stacie Weninger from F-Prime, Jasper Bos from Forbion, Tiba Aynechi from Norwest, Niall O'Donnell from RiverVest, and Heath Lukatch from Red Tree will contribute their expertise and guidance to the company's strategic direction.
Vikram Sudarsan, President and CEO of Engrail Therapeutics, expressed his gratitude for the strong financial support from experienced life science investors. He emphasized the company's commitment to delivering value-creating milestones and highlighted the ongoing ENX-102 phase II study in generalized anxiety disorder. Sudarsan also expressed excitement about the next chapter of Engrail's journey, with renowned thought partners in neuroscience and life sciences investing in their success.
A Promising Future for Engrail Therapeutics
The successful Series B funding round of $157 million is a significant milestone for Engrail Therapeutics. With a total raised capital of over $220 million, the company is well-funded to advance its pipeline of transformative therapies for neuropsychiatric and neurodevelopmental diseases.
Engrail Therapeutics' commitment to precision neuroscience and its dedicated team across multiple locations positions the company for future success. With experienced investors joining the board of directors, Engrail Therapeutics is poised to make a substantial impact in the field of neuropsychiatry and neurodevelopment, ultimately improving the lives of patients in need.