12:00 AM
Apr 29, 2013
 |  BioCentury  |  Finance

Drawing 10 of a kind

How Avalon, GSK will launch up to 10 early stage biotechs
Drawing 10 of a kind

The deal between Avalon Ventures and GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) to launch up to 10 early stage companies offers the VC a potential return of more than 10x its investment and gives the pharma access to early stage assets that meet its clinical litmus tests.

The deal also limits downside for Avalon because GSK will approve each company before an investment is made.

Avalon will contribute up to $3 million per company from its Fund X....

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