Engrail Therapeutics Secures USD 157 Mn in Series B from F-Prime Capital and Others With the raised funding, the neuroscience firm aims to propel the advancement of the company's pipeline through multiple stages of clinical development.
By Entrepreneur Staff •
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Engrail Therapeutics, a precision neuroscience company focused on the development of transformational therapies, has raised USD 157 million in Series B round co-led by investors F-Prime Capital, Forbion, and Norwest Venture Partners. Healthcare investor Eights Road Ventures, RiverVest Venture Partners, and Red Tree Venture Capital also participated in the round.
Since its inception, the company has raised over USD 220 million. In August 2021, It raised USD 64 million.
According to the official release, the raised funding will propel the advancement of the company's pipeline through multiple stages of clinical development.
Vikram Sudarsan, President and CEO of Engrail Therapeutics, said, "With strong financial backing from highly sophisticated and dedicated life science investors, we are well positioned to deliver multiple value-creating milestones. Notably, we look forward to completing our ongoing ENX-102 phase II study in generalised anxiety disorder and advancing the rest of our pipeline into clinical development.
"Engrail was fortunate to have been incubated under a tremendous commitment from Pivotal Life Sciences. We are excited to start the next chapter of our journey with some of the best thought partners in neuroscience and life sciences investing in our success," he added.
As part of the deal, Stacie Weninger (F-Prime), Jasper Bos (Forbion), Tiba Aynechi. (Norwest), Niall O'Donnell (RiverVest), and Heath Lukatch (Red Tree) have joined Engrail's board of directors.
Founded in 2019 by Vikram Sudarsan and Stephen Cunningham, Engrail Therapeutics is a clinical-stage pharmaceutical company which offers solutions to patients with neuropsychiatric and neurodevelopment diseases.
The startup claims that it is developing therapies for the treatment of diseases with unmet medical need including anxiety disorders, depression, posttraumatic stress disorder, and rare neurodegenerative diseases.
The Engrail team has members throughout Europe and India, although it is primarily based in the US.
