BioCentury
ARTICLE | Finance

Avalon's academic ADC

Avalon-backed Fortis launches with ADC from UCSF for treatment-resistant cancers

October 3, 2016 7:00 AM UTC

Avalon Ventures' latest academic deal has yielded a newco with an antibody-drug conjugate that will have Phase I data in two indications within the next three years.

Last week, the VC led an $18 million series A round for Fortis Therapeutics Inc., which is developing an ADC against a novel target for treatment-resistant prostate cancer and multiple myeloma (MM). Fortis exclusively licensed the technology from Bin Liu's lab at the University of California San Francisco. Terms are undisclosed. The newco will be housed in Avalon's COI Pharmaceuticals Inc. incubator...