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Psychiatric Genomics to Close $25M Series B Round Before New Year

WASHINGTON, DC, Oct. 3 – Psychiatric Genomics anticipates closing a Series B round of financing worth between $20 million and $25 million later in the current quarter, the company’s president and CSO told GenomeWeb on Wednesday. 

Michael Palfreyman, who is also Psychiatric Genomics’ founder, could not say what fund will be leading the round, but said that Oxford Bioscience, which led the company’s Series A round, will be a participant.

Psychiatric Genomics, of Gaithersburg, Md., uses its proprietary technology to discover genomic-based therapeutics for a variety of psychiatric disorders, including autism, depression, and schizophrenia, Palfreyman said. He made his remarks privately at the Biotechnology Industry Organization Venture Forum meeting, which is being held here through Thursday.