Irvine, CA-based Xytis--which was formed by the merger of Xytis Pharmaceuticals and the fledgling Remergent--has raised $24.5 million in its second round of venture funding. The money will go to preclinical and Phase I and II studies of experimental therapies for CNS disorders. Among its therapies in the pipeline is XY 2401 for treating the negative symptoms of schizophrenia. Sanderling Ventures led the round with Atlas Venture, Ventech and CDC Entreprises Innovation.
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