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Avila gets $30mm through Series B round
20 Aug 2009
Executive Summary
Avila Therapeutics (cancer, viral, and autoimmune diseases) raised $30mm through its Series B round. New and lead investor Novartis Option Fund, which gets a seat on the company's board, was joined by returning backers Abingworth, Advent Venture Partners, Atlas Venture, and Polaris Venture Partners. Novartis Option Fund's participation is connected to an equity purchase as part of an alliance recently announced between Avila and Novartis AG that calls for Avila to use its Avilomics drug development platform to develop one of its own protein-silencing covalent drugs for Novartis.
Deal Industry
- Pharmaceuticals
-
Biotechnology
- Large Molecule
Deal Status
- Final
Deal Type
-
Financing
- Venture Financing
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Avila gets $30mm through Series B round
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