Draig Therapeutics raised $65 million in an oversubscribed Series B to advance a neuropsychiatry pipeline led by a depression program designed to modulate the AMPA receptor. The company said the financing will support multiple programs, including lead development work intended to improve synapse function—an approach that places Draig in the growing field of next-generation synaptic therapeutics. As neuropsychiatry remains highly competitive, the size and oversubscription of the round signals investor appetite for early clinical programs that differentiate beyond monoamine strategies. Draig’s funding also adds to a broader biotech financing backdrop in which platform and mechanism-driven companies are drawing capital to push candidates toward Phase 2 readouts and potential regulatory pathways.