Xytis Raises $24.5M

Irvine-based Xytis, a new firm formed from the merger of Xytis Ltd. and Remergent, announced yesterday that it has raised $24.5M in Series B funding. Xytis is developing small molecule and allosteric modulator-based biopharmaceuticals for the treament of central nervous system disorders. Funding came from Sanderling Ventures, Atlas Ventures, Ventech, and CDC Enterprises Innovation. Remergent was a firm funded by Sanderling Ventures to commercialize drug discoveries from the University of California. More information »