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Avalon Ventures Backs Selectable Media

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San Diego-based venture investor Avalon Ventures has backed a developer of video advertising products, Selectable Media , to the tune of $2M. Selectable Media, which is based in New York, lets users opt into branded video advertising in exchange for free access to content on web and mobile apps. READ MORE>>.

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Avelas Biosciences Finds $7.4M

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San Diego-based Avelas Biosciences , which is developing cell penetrating peptides to light up cancerous tissue in patients during surgery, has raised $7.4M The second tranche of the company''s Series B came from investors Avalon Ventures, Torrey Pines Investment and WuXi PharmaTech Investments. in a Series B funding.

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Proximal Data In Deal With LSI

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San Diego-based server side caching software developer Proximal Data has inked a deal with LSI Corporation , where LSI will integrate its server-side caching technology with a PCIe flash application acceleration product. LSI''s product is used to accelerate the performance of VMware applications, via flash storage caching.

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Otonomy Gets $49M In New Funding

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San Diego-based biopharmaceuticals developer Otonomy --which is developing treatments for inner and middle ear disorders--has roped in a big, $49M funding, the company announced this morning. The company said the new funding will go towards its product pipeline and a potential filing for regulatory approval of its lead compound.

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Ankasa Regenerative Therapeutics Gets $8.5M For Stem Cells

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La Jolla-based Ankasa Regenerative Therapeutics , a company developing stem-cell based products aimed at organ and tissue regrowth, repair, and healing, has raised $8.5M The funding was led by Avalon Ventures, and also included Hereaus Medical and Correlation Ventures. in a Series A funding, the company said this morning.

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Proximal Data Acquired By Samsung

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San Diego-based Proximal Data , a developer of storage caching software aimed at use with virtualized systems, has been acquired by Samsung Electronics , Samsung said today. Proximal Data was venture backed by Divergent Ventures and Avalon Ventures, and had only announced around $5M in funding. READ MORE>>.

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Enlibrium Finds $15M For Cancer Drugs

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The funding was led by Avalon Ventures and TPG Biotech, and also included Correlation Ventures and Osage University Partners. The startup said it is developing novel drugs based on the anti-cancer activity of metformin and designed to reduce cancer energy production to treat a range of cancer types.

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