Monday, March 10, 2008

BrainCells Raises $30M

San Diego-based BrainCells, a biopharmaceutical firm developing treatments for central nervous system diseases, said Monday that it has raised $30M in a Series B funding round. The round came from MedImmune Ventures, City Capital, Oxford Bioscience Partners, Technology Partners, Pappas Ventures and Neuro Ventures. BrainCells is developing compounds that promote the growth of new neurons in the brain. The firm said the funding will go towards clinical development. William Bertrand, Jr., of MedImmune joins the firm's board as part of the funding. More information »