Xytis gets $7.5M to work on central nervous system disorders
Xytis, a privately-held biotech company based in both the U.S. (Irvine, CA) and Europe (London, England and Nyon, Switzerland) has raised a new round of series B funding. The company specializes in making treatments for patients with central nervous system (CNS) disorders.
The $7.5 million round was participated in by the Waltham, MA-based Atlas Venture Funds, the San Mateo, CA-based Sanderling Venture Partners and the Paris, France-based CDC Innovation.
The company previously raised a large $24.5 million round in early 2006 when it also announced a merger with Remergent Inc., a company that commercialized drug discoveries licenses from the University of California system.
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About the Author, MG Siegler
MG Siegler writes about technology trends and new media for VentureBeat, with a focus on mobile topics, social elements and key news stories. Before that, MG wrote about technology on his blog, ParisLemon. Originally from Ohio, MG attended the University of Michigan where he studied film. He's previously lived in Los Angeles where he worked in Hollywood and in San Diego where he did web development. He now lives in San Francisco.