Xytis gets $7.5M to work on central nervous system disorders

Xytis, a privately-held biotech company based in both the U.S. (Irvine, CA) and Europe (London, England and Nyon, Switzerland) has raised a new round of series B funding. The company specializes in making treatments for patients with central nervous system (CNS) disorders.

The $7.5 million round was participated in by the Waltham, MA-based Atlas Venture Funds, the San Mateo, CA-based Sanderling Venture Partners and the Paris, France-based CDC Innovation.

The company previously raised a large $24.5 million round in early 2006 when it also announced a merger with Remergent Inc., a company that commercialized drug discoveries licenses from the University of California system.