EnVivo Pharmaceuticals Closes $14.7M Series A Round Led by Fidelity BioSciences Group

EnVivo Pharmaceuticals Closes $14.7M Series A Round Led by Fidelity Biosciences Group - David A. Lowe, Ph.D. appointed as President and CEO -

October 03, 2002 - EnVivo Pharmaceuticals, a biopharmaceutical company dedicated to discovering and developing therapeutics for central nervous systems (CNS) disorders, today announced the closing of a $14.7 million Series A financing. The round was led by Fidelity Biosciences Group, a division of Fidelity Investments that invests private equity in the biosciences industry. Additional investors in the round include BCM Technologies, Inc., Baylor College of Medicine, BioTex Finance, Ltd., and CoGene Biotech Ventures, L.P.

As part of the funding, EnVivo appointed David A. Lowe, Ph.D., President and Chief Executive Officer. Dr. Lowe has more than 30 years of research and pharmaceutical industry experience, including executive management positions at Roche Bioscience, Bayer AG, and Sandoz, LTD. "This financing provides EnVivo with the capital to substantially expand our drug discovery platform and to accelerate the research already underway" stated Dr. Lowe.

The company previously received seed financing from: Baylor College of Medicine, BCMTechnologies, Inc., CoGene Biotech Ventures, European Molecular Biology Laboratory, EMBL Enterprise Management Technology Transfer GmbH, and NeuroVentures Fund.

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