EnVivo Pharmaceuticals of Watertown, MA has raised $24 million in its third round. Fidelity Biosciences led the round. EnVivo's first program to enter clinical development later this year is an alpha-7 nicotinic receptor agonist for cognition enhancement in Alzheimer's disease and schizophrenia. A second program, EVP-3546, for Huntington's disease will be brought into the clinic in 2007.
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PLUS: Switzerland's Santhera Pharmaceuticals has garnered €10 million with an option for €5 million more in its third round of venture capital. NGN Capital led the round. Santhera has two compounds in mid- to late-stage trials for a variety of rare disease indications. The drug developer has a Phase IIb trial underway for JP-1730/fipamezole with Juvantia for Dyskenesia in Parkinson's. Release (.pdf)
ALSO: Prolacta Bioscience has raised more than $5 million in venture funding for its series B round. Release