GSK/Avalon Incubator Launches New Firms For Cardiac, Cancer, Lysosomal Storage Disorders
This article was originally published in The Pink Sheet Daily
The partnership between GSK and Avalon has now launched six new biotechs in just over two years, each housed at Avalon’s incubator space in San Diego.
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Life sciences start-ups raised $2.61 billion in Q2 2015. Biotechs penned 38 alliances; seven acquisitions were signed, none in the medical device industry.
Biopharma, medtech and diagnostics start-ups raised a whopping 51% more Series A money in the first half of 2015 than during the same period last year, and the number of deals was way up too.
Silarus Therapeutics and Thyritope Biosciences are the latest two companies to be launched and financed by GlaxoSmithKline and partner Avalon Ventures. During Informa’s Pharmaceutical Strategy Conference, GSK’s Lon Cardon talked about how the partnership with Avalon is helping the Big Pharma access academic science.