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Psychiatric Genomics Closes on $6M Funding

NEW YORK, Sept. 10 (GenomeWeb News) - Psychiatric Genomics of Gaithersburg, Md., today announced the closing of $6 million in financing from the Stanley Medical Research Institute of Bethesda, Md., a non-profit research organization.


Michael Knable, executive director of the investor, will join the Psychiatric Genomics board of directors in addition to the post he holds on the company's scientific advisory board, Psychiatric Genomics said in a statement. Previously, SMRI invested $1 million in the company's Series B financing in November 2002.


Psychiatric Genomics will use the funds to identify gene expression patterns for use in creating compounds to treat psychiatric diseases, the company said.

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