Avalon Ventures Spins Out New Company, Iron Horse Therapeutics

San Diego-based venture investor Avalon Ventures, along with biopharmaceuticals firm GSK said this morning that the two companies are spinning out a new company, Iron Horse Therapeutics, backed by $10M in funding. According to the two, the new company will focus on treatments for amyotropic lateral sclerosis (ALS). The companies said that Iron Horse will also receive R&D support from Avalon and GSK (GlaxoSmithKline), as well as R&D and mentoring support from COI Pharmaceuticals. Avalon Ventures said that Iron Horse is the seventh company launched out of its collaboration with GSK. More information »