Covington & Burling Advised Draig Therapeutics On Landmark $140 Million Series A Financing

Covington & Burling Advised Draig Therapeutics on Landmark $140 Million Series A Financing

Covington & Burling LLP advised Draig Therapeutics on its $140 million Series A financing, marking one of the largest funding rounds for a UK university spin-out to date. Draig Therapeutics is focused on developing innovative treatment options for neuropsychiatric disorders and was co-founded by Cardiff University and SV Health Investors, who also led the seed round alongside ICG.

The oversubscribed Series A round was led by Access Biotechnology, with additional participation from Canaan Partners, SR One, Sanofi Ventures, Schroders Capital, and the seed investors.

The Covington team advising on the transaction was led by Ben Land-Maycock( Partner) and Katy Knight ( Special Counsel ).

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