GSK Buys One Of Eight Firms Formed In VC Partnership With Avalon
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.
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Private Company Edition: In recent weeks, 19 companies disclosed venture capital funding of $20m or more, including FogPharma with a $178m series D round and Apogee’s $169m launch. Also, Avalon BioVentures spun out of Avalon Ventures with a $135m fund.
Japanese firm exercises option after promising Phase I results in disorder with no approved drugs, in deal that builds out its celiac pipeline.
Takeda has exercised an option on partner Cour Pharmaceutical’s first-in-class lead product, after a positive Phase IIa study showed, for the first time, it was possible to induce specific immune tolerance to a foreign antigen in an autoimmune disease.