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.