Engrail Therapeutics Secures $157M Series B Funding for Clinical Neurotherapy Development
Engrail Therapeutics Secures $157M Series B Funding for Clinical Neurotherapy Development San Diego-based Engrail Therapeutics has announced a significant milestone in its journey towards advancing neuroscience research and treatment options. The firm has successfully closed a $157 million Series B funding round, with contributions from prominent investors such as F-Prime Capital, Forbion, and Norwest Venture Partners, among others.
Engrail Therapeutics Secures $157M Series B Funding for Clinical Neurotherapy Development
Advancing Clinical Development
Engrail Therapeutics intends to utilize the newly acquired funds to drive forward its pipeline of therapies aimed at addressing critical unmet medical needs in neuropsychiatric and neurodevelopmental diseases. These diseases include anxiety disorders, depression, post-traumatic stress disorder (PTSD), and rare neurodegenerative conditions. The company is poised to navigate multiple stages of clinical development with the support of this substantial investment.
Founders and Vision
Founded in 2019 by Vikram Sudarsan and Stephen Cunningham, Engrail Therapeutics has quickly emerged as a frontrunner in the field of neuroscience. With a mission to provide innovative solutions to patients grappling with neurological conditions, the company has assembled a talented team spread across the United States, India, and Europe.
Strategic Leadership
The leadership team at Engrail Therapeutics is bolstered by industry veterans with extensive experience in the pharmaceutical and biotechnology sectors. Vikram Sudarsan, the President and CEO of Engrail Therapeutics, brings a wealth of knowledge from his tenure at pharmaceutical giant Cipla, where he spearheaded the development of treatments for central nervous system (CNS) disorders and respiratory diseases.
Vision for the Future
Expressing his optimism about the company’s trajectory, Sudarsan stated, “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 generalized anxiety disorder and advancing the rest of our pipeline into clinical development.”
A Testament to Growth
Peter Bisgaard, Chairman of Engrail’s board of directors and Managing Director at Pivotal Life Sciences, reflected on the company’s journey, saying, “We are proud to have started Engrail, which has progressed rapidly from an idea into a clinical-stage neuroscience company within just a few years. We have assembled a strong Series B syndicate that positions the organization well for significant growth and pipeline advancement.”
The successful completion of the Series B funding round marks a pivotal moment for Engrail Therapeutics as it continues its quest to unlock new treatment modalities for neurological disorders. With a commitment to innovation and a robust pipeline of therapies, the company is poised to make a meaningful impact on the lives of patients worldwide.
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