Engrail Therapeutics Raises $157M to Pioneer Neuroscientific Innovations, Engrail Therapeutics, has successfully raised $157 million in its Series B funding round. The funding was co-led by F-Prime Capital, Forbion, and Norwest Venture Partners, with participation from other notable investors including Eights Road Ventures, RiverVest Venture Partners, and Red Tree Venture Capital. This substantial investment is poised to propel Engrail’s clinical development efforts for its innovative therapies targeting a spectrum of neurological disorders.
Engrail Therapeutics Secures $157M Series B Funding for Clinical Advancement San Diego-based neuroscience firm
Advancing Clinical Pipeline
Engrail Therapeutics, founded in 2019 by Vikram Sudarsan and Stephen Cunningham, specializes in developing therapies to address unmet medical needs in neuropsychiatric and neurodevelopmental diseases. The company is dedicated to providing solutions for conditions such as anxiety disorders, depression, post-traumatic stress disorder (PTSD), and rare neurodegenerative diseases. With this Series B funding, Engrail aims to accelerate the progression of its pipeline through various stages of clinical development, marking significant strides towards addressing critical healthcare challenges.
Strong Investor Backing
The Series B funding round was backed by a consortium of esteemed investors renowned for their expertise in the life sciences sector. Notably, Stacie Weninger from F-Prime, Jasper Bos from Forbion, Tiba Aynechi from Norwest, Niall O’Donnell from RiverVest, and Heath Lukatch from Red Tree have joined Engrail’s board of directors, bringing invaluable insights and strategic guidance to the company. This diverse and experienced board is expected to contribute significantly to Engrail’s strategic growth and development initiatives.
Vision for the Future
Commenting on the funding success, Engrail’s President and CEO, Vikram Sudarsan, expressed confidence in the company’s ability to achieve significant milestones with the support of its investors. Sudarsan emphasized Engrail’s commitment to delivering value-creating advancements, particularly highlighting the ongoing ENX-102 phase II study targeting generalized anxiety disorder. He also underscored the company’s gratitude for the substantial backing received from prominent life science investors, which positions Engrail for continued success in the field of neuroscience.
Peter Bisgaard, Chairman of Engrail’s board of directors and Managing Director at Pivotal Life Sciences, echoed Sudarsan’s sentiments, emphasizing the remarkable progress achieved by Engrail since its inception. Bisgaard highlighted Engrail’s rapid evolution from a conceptual idea to a clinical-stage neuroscience company and expressed optimism about the organization’s future growth and pipeline advancement opportunities.
A Transformative Journey
Engrail’s journey from inception to securing significant Series B funding underscores its commitment to innovation and addressing critical unmet needs in the field of neuroscience. With a robust financial foundation and a dedicated team of experts, Engrail is poised to drive meaningful advancements in the diagnosis, treatment, and management of neurological disorders, ultimately improving patient outcomes and quality of life.
As Engrail embarks on the next phase of its journey, fueled by the support of its investors and guided by its vision for transformative healthcare solutions, the company stands at the forefront of innovation in neuroscience, poised to make a lasting impact on global healthcare.