BioCentury
ARTICLE | Financial News

Avalon, GSK launch three more biotechs

June 16, 2015 2:10 AM UTC

Avalon Ventures and GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) launched three build-to-buy companies, each with $3 million in series A funding and $7 million in R&D support.

Adrenergics Inc. is focused on therapies for dilated cardiomyopathy. CadheRx Therapeutics Inc. is developing antibodies against E-cadherin ( CDH1; CD324) to treat drug-resistant epithelial cancers. Calporta Therapeutics Inc. is developing small molecule agonists of mucolipin 1 (TRPML1; MCOLN1) to treat Niemann-Pick type C (NPC) and other lysosomal storage disorders. ...