BrainCells raises $30 million in series B financing

New investor MedImmune Ventures joined previous investors Bay City Capital, Oxford Bioscience Partners, Technology Partners, Pappas Ventures and Neuro Ventures in the round. As a part of the series B financing, the company also announced the addition of William Bertrand, Jr., senior vice president and general counsel of MedImmune, to its board of directors.

The financing will be used to continue clinical development of the company’s product candidates including BCI-540, and to identify additional assets to further expand its pipeline. BCI-540, is being investigated for the treatment of depression and anxiety disorders.