Avalon, GSK fund two more startups under collaboration
This article was originally published in Scrip
Avalon Ventures and GlaxoSmithKline have launched Silarus Therapeutics and Thyritope Biosciences, the second and third San Diego-based biotechnology companies formed under a partnership that Avalon and GSK initiated in 2013 to fund up to 10 new startup firms.
You may also be interested in...
Celiac disease specialist Sitari was the first company formed under the six-year collaboration. Three were shut down and Avalon controls the other four, which aren't compatible with GSK's new R&D focus.
Public Company Edition: Codiak, Kiromic, Aligos and Opthea have fallen below their initial public offering values, while Tarsus and Praxis are trading higher. Also, 5AM, MPM and Cormorant took biotech SPACs public and Evotec led recent non-IPO financings with a €250m private placement.
Private Company Edition: Venture capital invested in pharma and biotech in 2020 totaled $19.5m through Q3, just $400m below the full-year record total of $19.9bn in 2018. Also, Canaan and Catalio reveal new VC funds, while Talaris’s $115m series B leads recent financings.