Avalon Ventures, GSK Dole Out $20M for Two New Biotech Companies in San Diego
On Monday, Avalon Ventures in La Jolla and the British drugmaker GlaxoSmithKline announced a $20 million joint investment in two San Diego-based biotechnology companies. Under the deal, Silarus Therapeutics, a developer of treatments for anemia, and Thyritope Biosciences, a developer of an experimental thyroid drug, will each receive up to $10 million to bolster research efforts.
- "Two New San Diego Biotechs Get $20 Million" (Fikes, U-T San Diego, 9/23).