EnVivo Pharmaceuticals Secures $23 Million Series B Funding

EnVivo Pharmaceuticals Secures $23 Million Series B Funding
Watertown, Mass., November 15, 2004 - EnVivo Pharmaceuticals, Inc., a biopharmaceutical company focused on the discovery and development of treatments for central nervous system diseases, today announced it has secured $23 million in Series B financing.

The latest round of financing was led by existing investor Fidelity Biosciences Group, a division of Fidelity Investments that invests private equity in the biosciences industry, as well as several private investors. EnVivo has raised a total of nearly $38 million since October 2002, including a Series A funding, which also was led by Fidelity Biosciences Group and included BBBC Investor Group, which includes BCM Technologies, Inc., Baylor College of Medicine, BioTex Finance, Ltd., and CoGene BioTech Ventures.

EnVivo plans to use the new round of funding to further advance identifying and characterizing novel compounds that may be effective as new treatments for neurodegenerative diseases such as Huntington’s and Alzheimer’s diseases. The company uses in vivo screening of humanized Drosophila disease models, to discover new small-molecule compounds that are then tested in vertebrate assays.

About EnVivo
EnVivo Pharmaceuticals (located in Watertown, MA) is a biopharmaceutical company dedicated to discovering and developing drugs for central nervous system (CNS) disorders currently focusing on Alzheimer’s Disease, Parkinson’s Disease, Huntington’s Disease, and Spinocerebellar Ataxias. The company has created a new paradigm in drug discovery using a proprietary screening platform based on humanized Drosophila disease models to rapidly identify hits that are then tested in vertebrate assays. For more information about EnVivo, please visit www.envivopharma.com.

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