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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 Biosciences Raises $6.85M

socalTECH

The company said the funding came from Avalon Ventures, and also included Torrey Pines Investment, WuXi AppTec, and an additional, un-named investor. Avelas Biosciences is developing a flourecent peptide which helps surgeons highlight cancer cells during surgery, specifically for breast cancer. READ MORE>>.

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Southern California Firms Get $587.0M In Venture Capital In Q2

socalTECH

in venture capital investments in Q2 2013 across Southern California, spread across 80 deals. Those numbers reflected a drop from Q2 of last year, when there was $868.98M in investments across 97 deals. However, venture dollars invested were above Q1, when Southern California saw $569.1M in investments across 90 deals.

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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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Interview with Michael Aleles, Quippi

socalTECH

We are leveraging brand awareness and familiarity, and providing a way for those consumers to help support their families back home. The round was led by Avalon Ventures, and we also had participation from Acciom Venture Lab, a socially responsible venture fund out of Washington, D.C. How did you get into this?

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Otonomy Scraps Hearing Loss Drug After Phase 3 Flop, Shares Routed

Xconomy

Investment in experimental drugs for hearing loss, long an untapped field in the pharmaceutical industry, may be picking up, but drugs that actually help with these disorders remain elusive.

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AnaptysBio Adds More Shares, Raises $75M in Stock Market Debut

Xconomy

As has been the case for biotechs over the past year , insiders helped Anaptys get to the public market. Stockholders who had invested in the. Anaptys also sold 1 million more shares that it had initially planned. Read more » Reprints | Share: UNDERWRITERS AND PARTNERS.