ARTICLE | Financial News

Avelas' series C round brings in $20M

August 18, 2016 7:00 AM UTC

Avelas Biosciences Inc. (La Jolla, Calif.) raised $20 million in a series C financing led by the Pharmstandard International S.A. subsidiary of Pharmstandard OJSC (RTS:PHST; LSE:PHST). New investors Ervington Investments and Alexandria Venture Investments participated, as did existing investors Avalon Ventures, Bregua Corp. and WuXi Healthcare Ventures.

Avelas expects data by YE16 from a Phase Ib study of AVB-620, an IV fluorescent protease-activated peptide, for intraoperative diagnosis of lymph node metastases in women with primary, non-recurrent breast cancer. ...