Draig Therapeutics secures £23.1m Series A for neuropsychiatric drug pipeline

A Series A funding round of £23.1m has been secured by Cardiff-based Draig Therapeutics to advance its clinical-stage treatments for neuropsychiatric diseases. The company focuses on restoring brain health through therapies to modulate glutamate and GABA pathways, which are critical in conditions such as Major Depressive Disorder.

Founded in 2021, the biotechnology firm leverages scientific research originating from Cardiff University. Its name is derived from the Welsh word for dragon, reflecting its regional heritage. The business aims to address unmet patient needs by developing a pipeline of therapies intended to transform the landscape of care in this field.

This latest capital injection brings the total funding raised by the company in 2026 to £57.7m. This follows a total of £43.6m recorded across 2025. While statutory accounts for the period ending 31 December that year listed a headcount of 15 staff, more recent figures from LinkedIn indicate the workforce has grown to 41 employees.

Documentation for this investment was filed in June, with the allotment of shares also occurring during the same month.