Euthymics lands $24M to fund antidepressant work

Novartis Venture Funds and Venture Investors led a $24 million Series A financing for Euthymics Bioscience, which is developing antidepressants. The funding helps Cambridge, MA-based Euthymics complete its acquisition of DOV Pharmaceutical and supports continued development of DOV's antidepressant, EB-1010 (DOV 21,947), for patients who do not respond to SSRIs. As many as two-thirds of those in need of antidepressants can't take SSRIs due to side effects. EB-1010, which is...