BioCentury
ARTICLE | Company News

Sitari Pharmaceuticals Corp., GlaxoSmithKline sales and marketing update

November 25, 2013 8:00 AM UTC

Avalon Ventures and GlaxoSmithKline launched celiac disease company Sitari, with $10 million in a series A round. The virtual newco, which is developing small molecule inhibitors of transglutaminase 2 ( TGM2; TG2), is the first to be launched under an April deal between Avalon and GSK to fund and launch up to 10 early stage companies. Sitari expects to nominate a clinical candidate in three to four years, at which point GSK will have an option to acquire the newco for about $40 million. TGM2 is an enzyme that catalyzes a reaction with gluten in the gut that drives the pathogenic autoimmune response underlying celiac disease. ...