Ysios Capital Invests in Engrail Therapeutics’ $157 Million Series B

New contribution from Ysios Capital. The Spanish manager focused on investments in the biotechnology sector will invest $157 million in the financing round of the American company Engrail Therapeutics, according to a company statement.

In this way, Ysios Capital has joined a syndicate of investors led by F-Prime Capital, Forbion and Norwest Venture Partners , with additional participation from RiverVest Venture Partners and Red Tree Venture Capital, among others. Since its founding in 2019, Engrail has raised more than $220 million.

This capital increase will allow Engrail to continue developing treatments for neuropsychiatric disorders . Among them, drugs for anxiety, depression, and post-traumatic stress stand out. In addition, the American company is developing a treatment for Menkes syndrome, a rare neurodegenerative disease that mainly affects children.

The company’s lead product, ENX-102, is in phase two for the treatment of generalized anxiety disorder. Anxiety is a psychiatric disorder suffered by millions of people and is the most common mental health problem in Spain, affecting 6.7% of the population.

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Ysios Capital manages around 400 million euros in assets in its three funds

Current treatments for generalized anxiety disorder include, but are not limited to, medications such as benzodiazepines . The latter often carry side effects that prevent patients from leading a normal life. The project developed by Engrail has the potential to “effectively treat the symptoms of anxiety by reducing side effects,” as the statement explained.

Engrail is a clinical-stage pharmaceutical company with the purpose of developing transformative therapies for patients with neuropsychiatric and neurodevelopmental diseases.

For its part, Ysios Capital, which last February already invested more than one hundred million euros in another American health company, is a Spanish manager that provides financing to life sciences companies that develop treatments for unmet medical needs.

Ysios Capital is an investment manager founded in 2008 and with offices in Barcelona and San Sebastián. It currently manages around €400 million in assets across its three funds. The Neurona investment that the company made last February is the thirteenth investment of the third fund, Ysios BioFund III, so this represents its fourteenth operation.

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First published in PlantaDoce. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.

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