Engrail Therapeutics raises $157M Series B

Engrail Therapeutics, a precision neuroscience company focused on the development of transformational therapies to improve the lives of patients, today announced that it has closed an oversubscribed $157 million Series B financing round.

The round was co-led by new investors our US based sister fund F-Prime Capital, Forbion, and Norwest Venture Partners, with participation from our India Ventures team, RiverVest Venture Partners, Red Tree Venture Capital, funds managed by abrdn Inc., Ysios Capital, Longwood Fund, and existing founding investor Pivotal Life Sciences.

Funding from the Series B round will propel the advancement of their pipeline through multiple stages of clinical development. Engrail is developing therapies for the treatment of diseases with significant unmet medical need including anxiety disorders, depression, posttraumatic stress disorder, and rare neurodegenerative diseases. 

Engrail was founded in 2019 by Vikram Sudarsan, PhD, and Stephen Cunningham, MD with the aspiration to become a leader in neuroscience. Today, the Engrail team is primarily based in the US, with team members in India and Europe as well. 

Dr. Sudarsan was a former executive at Cipla, one of the largest pharmaceutical manufacturers in India. Notably, he was CEO of Cipla Technologies where he built a pipeline of branded products to treat CNS disorders and respiratory diseases. Prior to that, Vikram was head of strategy at Cipla New Ventures. He has served on the Boards of Stempeutics, Chase Pharmaceuticals, Cipla Technologies, and Cipla USA. 

“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 2 study in generalized anxiety disorder and advancing the rest of our pipeline into clinical development. Engrail was fortunate to have been incubated under a tremendous commitment from Pivotal Life Sciences. We are excited to start the next chapter of our journey with some of the best thought partners in neuroscience and life sciences investing in our success.”  Vikram Sudarsan, Ph.D., president and CEO of Engrail Therapeutics. 

Read more about the fundraise here