The funding round saw participation of investors such as Eight Roads Ventures, RiverVest Venture Partners, Red Tree Venture Capital, funds managed by abrdn Inc., Ysios Capital, Longwood Fund, and existing founding investor Pivotal Life Sciences.
The proceeds of the fund raise will help to support advancement of Engrail’s pipeline for neuropsychiatric and neurodevelopmental disorders
The company’s lead pipeline asset, ENX-101, is a selective GABA modulator that helps to treat people suffering from anxiety, pain and other indications.
ENX-101, is developed as a potential non-addictive and safe treatment alternative to current therapy benzodiazepines, which is a non-selective GABA modulator with risk of side effects like sedation, cognitive impairment and risk of addiction.
Engrail was founded in 2019 by Vikram Sudarsan, and Stephen Cunningham.
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Sudarsan was a former Cipla executive who headed Cipla Technologies where he built a pipeline of branded products to treat CNS disorders and respiratory diseases. Prior to that, Sudarsan headed strategy at Cipla New Ventures.The Engrail team is primarily based in the US, with team members in India and Europe.
“We look forward to completing our ongoing ENX-102 phase 2 study in generalized anxiety disorder and advancing the rest of our pipeline into clinical development,” Vikram Sudarsan, president and CEO of Engrail Therapeutics.
Engrail had raised $64 million in August 2021. In total, it has raised $220 million in capital
