BioCentury
ARTICLE | Finance

After single exit, Avalon seeks path forward for build-to-buy assets from GSK deal

Avalon is shopping four assets now that GSK has moved on from a build-to-buy deal

September 13, 2019 10:22 PM UTC
Updated on Nov 13, 2019 at 9:49 PM UTC

With GSK effectively bowing out of a 2013 build-to-buy deal with Avalon Ventures after delivering just one exit, the VC is seeking to navigate a future for a handful of Phase I-ready programs it created to fill the pipeline of a partner that has since moved on.

A deal announced Wednesday, in which GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) acquired celiac disease company Sitari Pharmaceuticals Inc. for an undisclosed amount, is the lone takeout that has stemmed from the partners’ deal. GSK will receive a lead program targeting TG2 along with some backup molecules, Avalon’s Jay Lichter told BioCentury...