Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Meyer
07.22.26
Pillsbury advised Deep Track Capital, a Greenwich, Connecticut-based investment firm focused exclusively on the life sciences industry, in connection with its lead investment in Draig Therapeutics’ oversubscribed $65 million Series B funding round. Draig Therapeutics is a clinical-stage biopharmaceutical company developing transformative neuropsychiatric therapies.
The financing also included participation from Janus Henderson Investors, Marshall Wace, British Business Bank and Jefferson Life Sciences.
The proceeds from the financing will support the accelerated clinical development of Draig’s pipeline of highly selective AMPA and GABAA receptor modulators, which are designed to enable safe and precise modulation of the key neurocircuits underlying neuropsychiatric disorders.
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The Pillsbury deal team was led by Corporate partners Michael Flynn and Saarah Woodby and Emerging Companies & Venture Capital partner Sarah Melaney and senior associate Alex Davidson.