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Avalon to reinvest in early-stage assets as Genentech acquires Afraxis license

This article was originally published in Scrip

Executive Summary

Now that the small San Diego, US biotechnology company Afraxis has signed a global licensing agreement worth up to $187.5 million with Roche's Genentech unit, it will cease to exist as a drug discovery firm, but its "dendritic spine" lab will live on as a third-party service provider.


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