Cardiff University spin-out Draig Therapeutics is putting Welsh research at the centre of pioneering new therapies for neuropsychiatric disorders as part of a multi-million pound investment.
The new spinout will launch as a clinical-stage company with a $140 Million (£107 Million) investment from leading international venture investors, to advance the development of novel therapies for major neuropsychiatric disorders such as major depressive disorder. This represents the most significant commercial investment into Welsh research to date.
Founded on the research and expertise of Professor John Atack and Professor Simon Ward, from Cardiff University's Medicines Discovery Institute, the new company will translate the latest research into new treatments for neuropsychiatric conditions.
Draig Therapeutics will target key processes in the brain - the Glutamate and GABA pathways - 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."
With the launch of Draig, we can test and develop these new treatments, to bring them into clinical practice and make genuine impacts on the lives of patients around the world.
Draig was formed through a partnership between Cardiff University's Medicine Discovery Institute and SV Health Investors and founded in 2024. Draig Therapeutics will launch on June 18, 2025, with investment led by Access Biotechnology, alongside SV Health Investors and ICG, and including Canaan Partners, SR One, Sanofi Ventures and Schroders Capital.
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.
The new funds will enable Draig Therapeutics to advance its lead candidate drug, DT-101, into Phase 2 trials in 2025 for Major Depressive Disorder. The funding will also enable Draig Therapeutics to advance two other drugs towards clinical development in 2026, with best-in-class potential across a range of neuropsychiatric disorders.
This investment in Draig Therapeutics is the largest into a Cardiff University spinout company and represents an outstanding success for the University's Medicines Discovery Institute and will significantly accelerate the delivery of much-needed therapeutics to patients.
The Medicines Discovery Institute was launched at Cardiff University in 2017, with supportive funding from the European Regional Development Fund through the Welsh Government's Sêr Cymru scheme, to translate the latest biomedical research into new therapies. Significant investment was also received from the Wellcome Trust, Medical Research Council, Medr (formerly known as the Higher Education Funding Council for Wales), and The Wolfson Foundation.
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.
