Venture Firm Avalon Turns To GSK To Share Biotech Risk
This article was originally published in Start Up
Executive Summary
Entering its fourth decade, Avalon fights through “dark days” and taps GlaxoSmithKline to help fund its next crop of early-stage start-ups. In exchange, it must deliver assets, not platforms, to trigger a GSK acquisition of those start-ups, with pre-arranged returns.
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