ARTICLE | Finance
Avalon-GSK bet on familiarity, speed
How Avalon, GSK chose next newcos for their pre-POC collaboration
September 29, 2014 7:00 AM UTC
GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) and Avalon Ventures' double launch of iron play Silarus Therapeutics Inc. and autoimmune company Thyritope Biosciences Inc. shows one more element the pharma likes about the partnership's 2013 deal to fund 10 early stage companies: familiar therapeutic areas.
According to Avalon's Jay Lichter, each newco will receive quarterly contributions that could total $10 million in series A funding - $3 million from Avalon and the rest from GSK - over the 3-4 years Avalon thinks it will take to generate a clinical candidate...