Monday, June 15, 2015
Avalon Ventures Launches Trio Of Life Science Startups
San Diego-based Avalon Ventures said this morning that it has launched and funded three, new companies as part of its deal with GSK. Avalon Venturs said that Adrenergics, CadheRx Therapeutics, and Calporta Therapeutics have all received $10M in Series A funding, and will receive R&D support from Avalon Ventures and GSK. All three companies are based in San Diego, and will be colocated at COI Pharmaceuticals. Avalon and GSK have a deal to fund and launch up to 10, early-stage life sciences companies together. Adrenergics is focuses on treatments for dilated cardiomyopathy (DCM); CadheRx is developing therapeutic antibodies for treating solid tumors; Calporta is developing small molecule agonists to treat Niemann-Pick C Disease (NPC) and other lysosomal storage diseases.