Avelas Biosciences Finds $7.4M

San Diego-based Avelas Biosciences, which is developing cell penetrating peptides to light up cancerous tissue in patients during surgery, has raised $7.4M in a Series B funding. The second tranche of the company's Series B came from investors Avalon Ventures, Torrey Pines Investment and WuXi PharmaTech Investments. The technology behind the Avelas product is based on research conducted at UC San Diego. More information »