Cytovia Raises $10 Million in Venture Capital

Cytovia Inc. said it raised $10 million in venture capital to develop and commercialize its drug-discovery technology. The privately held Irvine company uses living cells to screen experimental compounds for possible applications as drugs.

It aims to offer the technology to large pharmaceutical companies that want to test new compounds to see if they’ll work as drugs.

Cytovia was spun off in January from CoCensys Inc., an Irvine drug developer.