Engrail Therapeutics Secures $157 Million in Funding to Advance Pipeline

Engrail Therapeutics
Preeti Bali / 10:02 am / March 21, 2024

Engrail Therapeutics, a San Diego-headquartered company focused on neurological and mental health conditions, has secured $157 million in Series B funding. This significant investment round will fuel the advancement of Engrail’s pipeline of potential treatments through various stages of clinical trials.

San Diego-based Neuroscience Company Raises Capital for Drug Development

The funding round was co-led by three prominent life science investment firms: F-Prime Capital, Forbion, and Norwest Venture Partners. Additional participation came from a group of established healthcare investors, including Eight Roads Ventures, RiverVest Venture Partners, and Red Tree Venture Capital.

The capital injection will allow Engrail to progress its pipeline of therapies targeting conditions with limited treatment options. The company is particularly focused on developing treatments for anxiety disorders, depression, post-traumatic stress disorder (PTSD), and rare neurodegenerative diseases.

Engrail’s Global Team Aims to Address Neurological and Mental Health Challenges

Founded in 2019 by Vikram Sudarsan and Stephen Cunningham, Engrail boasts a team of experts dedicated to finding solutions for patients suffering from neurological and developmental disorders. While primarily based in the United States, the company also has team members working in India and Europe.

Experienced Leadership and Board Expansion

Several industry veterans have joined Engrail’s board of directors to provide strategic guidance. These include Stacie Weninger (F-Prime Capital), Jasper Bos (Forbion), Tiba Aynechi (Norwest Venture Partners), Niall O’Donnell (RiverVest Venture Partners), and Heath Lukatch (Red Tree Venture Capital).

Building on a Strong Foundation for Future Success

Vikram Sudarsan, Engrail’s President and CEO, brings a wealth of experience to the company. Previously, he served as the CEO of Cipla, a pharmaceutical company where he oversaw the development of branded treatments for central nervous system (CNS) disorders and respiratory diseases. Sudarsan expressed optimism about Engrail’s future, stating, “With this strong financial backing, we are well-positioned to achieve significant milestones. We are particularly focused on completing our ongoing phase II study of ENX-102 for generalized anxiety disorder, while also advancing the rest of our pipeline into clinical trials.”

Sudarsan also acknowledged the crucial role played by Pivotal Life Sciences in Engrail’s early development. He stated, “We are grateful for the tremendous support Pivotal Life Sciences provided during our incubation phase. Now, we are excited to embark on this next chapter with the backing of some of the leading investors in neuroscience and life sciences.”

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