Covington Advises Draig Therapeutics on $140m Total Financing

LONDON-Covington advised Draig Therapeutics Limited on its $140m financing since inception of the company in 2024.

Draig Therapeutics is developing novel treatment options for neuropsychiatric disorders and was co-founded by Cardiff University and SV Health Investors, which led the seed financing with ICG. The oversubscribed Series A financing was led by Access Biotechnology, with participation from Canaan Partners, SR One, Sanofi Ventures, Schroders Capital along with seed investors.

The Covington team was led by Ben Land-Maycock and Katy Knight.