BioCentury
ARTICLE | Finance

Ebb & Flow

March 25, 2002 8:00 AM UTC

Money continues to pour into the neurology space, as attested to by a $40 million financing that is to be announced today by Memory Pharmaceuticals. The round is the largest financing for a CNS company this year. And it's the fourth largest 2002 venture round for all companies, behind cancer company Agensys ($42.8 million) and infectious disease plays Inhibitex ($41.4 million) and Achillion ($41 million) (see "Neuro Money", below).

The company is discovering cognition enhancers using its Cognostics platform: an array of bioassays to evaluate the biological, physiological and behavioral aspects of drug effects within memory pathways...