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Psychiatric Genomics Secures $17 Million in Series B Cash

NEW YORK, Nov. 19-Psychiatric Genomics said today that it has raised $17 million in its first round of Series B financing.

 

The round is led by Catalytix, a Cayman Islands investment fund. Other investors include the Stanley Medical Research Institute, Oxford Bioscience Partners, the Maryland Department of Business and Economic Development, and others.

 

The company expects to raise additional money in this round, which will remain open until the end of the year.

 

Psychiatric Genomics is working to discover genomics-based therapeutics for common mental illnesses like bipolar disorder, autism, and depression. It uses microarrays to probe gene expression in postmortem human brain samples, and has a pharmacogenomics program using cultured neuronal cells.

 

The company is based in Gaithersburg, Md.