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After Investing, GSK to Buy Out Celiac Drug Developer Sitari Pharma

Xconomy

GlaxoSmithKline is acquiring a startup it helped launch in 2013 as part of an alliance with life sciences venture capital firm Avalon Ventures. Avalon said Tuesday that GSK (NYSE: GSK ) has agreed to buy the company, Sitari Pharmaceuticals, which has been developing a treatment for celiac disease.

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Avelas Bio Raises $20M to Push Cancer-Illuminating Biologic Agent

Xconomy

San Diego’s Avelas Biosciences , founded in 2009 to advance a fluorescing biologic agent intended to help surgeons differentiate cancerous tissue from healthy tissue, has completed a $20 million Series C round of venture funding. and San Diego’s Avalon Ventures. He is the CEO and managing partner at Inbio Ventures.

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An Homage to Larry Bock, Who Had God’s Hand on His Shoulder

Xconomy

Bock, who died last Wednesday at 56, was a life sciences entrepreneur and investor who helped start or finance dozens of companies that have a combined market value estimated today at roughly $70 billion. When Xconomy came to San Diego in 2008, he also readily volunteered to help our editorial mission as an Xconomist. ).