Biotech firm settles in Jupiter

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Envoy Therapeutics, said it raised $8 million in a private placement led by 5AM Ventures, a life sciences venture capital firm in Menlo Park, Calif.

One of its four founders is Nobel laureate Paul Greengard. A neuorscience professor at Rockefeller University in New York, Greengard shared the 2000 Nobel Prize in Physiology or Medicine with two others for discovering how dopamine, among other things, affects the nervous system.

Envoy's Web site said it will try to develop drugs for schizophrenia, Parkinson's, Alzheimer's, drug addiction, epilepsy, anxiety and depression and other disorders. The research will focus on identifying proteins in the brain that can be targeted by new drugs.

"They have a way of dealing with individual brain cell genes," said Richard Lerner, president of The Scripps Research Institute. "They find proteins produced in very specialized areas of the brain."

Biotech firm settles in Jupiter

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