BrainCells garners $17.7M in round one

San Diego-based BrainCells has raised $17.7 million in its first round of venture capital. Technology Partners and seed investors Oxford Bioscience Partners and Bay City Capital led the round. BrainCells was founded by Fred H. Gage and Harry Hixson in December 2003 to capitalize on Dr. Gage's discoveries that humans generate new nerve cells throughout life and that this endogenous process -- neurogenesis -- can be manipulated using known small molecule therapeutics.

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PLUS: Cambridge, Massachusetts-based Peptimmune has closed a $20.4 million third round. Release