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LONDON, Nov 2 (Reuters) - Privately held Probiodrug of Germany has raised more than 36 million euros ($53 million) to fund its work into Alzheimer's disease in one of the year's biggest fund-raisings by an unlisted biotech company. The group said on Monday it had closed its second financing round co-led by BB Biotech and Edmond de Rothschild Investment Partners, joined by LSP Life Science Partners, Biogen Idec New Ventures and existing investors. Probiodrug's scientists are taking a novel approach to treating Alzheimer's by inhibiting an enzyme in the brain called glutaminyl cyclase, which appears to be involved in a cascade of events that can lead to the formation of damaging plaques. The new funds will be used to further progress the company's early-stage drug research. ($1=.6784 Euro) (Reporting by Ben Hirschler; editing by Simon Jessop) Keywords: BIOTECH/GERMANY PROBIODRUG (ben.hirschler@thomsonreuters.com; Tel: +44 20 7542 5082; Reuters Messaging: ben.hirschler.reuters.com@reuters.net; www.twitter.com/reutersBenHir) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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