Xytis Inc., a newly formed drug developer based in Irvine, has raised $24.5 million in a second round of venture financing.
The company is working on drugs to treat what it says are “central nervous system disorders addressing unmet medical needs within large markets.”
Some of those conditions, according to the company, include schizophrenia and brain injuries.
Sanderling Ventures of Palo Alto led the funding. Atlas Venture of Boston and a pair of French venture investors,Ventech and CDC Entreprises Innovation,also took part.
For more on this story, see the Jan. 16 edition of the Business Journal.
