Financing

$6M in funds helps biotech company develop psychiatric disease treatments

Published in Biotech Business Week, October 6th, 2003

Psychiatric Genomics, Inc., a company utilizing expression analysis of human tissues to develop innovative small molecule drugs to treat mental health disorders, announced closing on a $6 million financing commitment with The Stanley Medical Research Institute (SMRI) of Bethesda, Maryland, a shareholder of the company.

Psychiatric Genomics will use the funds to identify gene expression patterns of diseases (disease signatures) and drugs (drug signatures) to find next-generation compounds to treat psychiatric diseases, and will seek established partners for their development/commercialization.

In November 2002, SMRI invested US$1 million dollars in...

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Source: Biotech Business Week (2003-10-06)

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