Cardiff biotech Draig Therapeutics secures £34.6m Series A for neuropsychiatric pipeline

Draig Therapeutics has secured an estimated £34.6m in a Series A funding round to advance its pipeline of next-generation neuromodulators. The Cardiff-based clinical-stage biotechnology company focuses on treating neuropsychiatric disorders, specifically targeting Major Depressive Disorder.

The company is developing therapies designed to restore synaptic balance by modulating glutamate and GABA pathways. Its lead candidate, DT-101, is an AMPA receptor positive allosteric modulator. Draig Therapeutics also maintains a pipeline of GABAA receptor modulators aimed at addressing unmet patient needs in the mental health sector.

Founded in 2021, the company originated from scientific research conducted at Cardiff University. The name Draig, the Welsh word for dragon, reflects these regional roots. According to its latest accounts for the year ended 31 December 2025, the firm employed 15 people, though more recent data from LinkedIn indicates a headcount of 39 staff members.

This £34.6m round (allotted April 2026 and filed in May 2026) represents an increase in scale compared to the company's previous Series A funding of £29.6m in June 2025. Prior to its Series A activity, Draig Therapeutics completed two seed rounds in 2025, raising £9m in January and £5m in April. An earlier funding round in September 2024 raised £6m.

The company operates from its headquarters in Cardiff and continues to leverage scientific expertise in neuropsychiatry to transform treatment options for patients with complex brain disorders. Its mission involves advancing a pipeline of therapies designed to address large unmet patient needs in the glutamate and GABA pathways.