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Avalon Ventures Gets Exit At Sitari Pharmaceuticals

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San Diego-based biotech investor Avalon Ventures has scored an exit, saying late Tuesday evening that it has entered into a definitive agreement with GlaxoSmithKline (GSK), to sell Sitari Pharmaceuticals to GSK. Sitari was developing treatments for celiac disease, and was being incubated at COI Pharmaceuticals.

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Avalon Ventures Backs LoopIt

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San Diego-based venture investment fund Avalon Ventures has made a seed investment in a developer of a social shopping service, LoopIt , according to the companies. and is a spinout of Redstar Ventures, a venture incubator firm in Cambridge. Avalon's Rich Levandov was involved in the investment. READ MORE>>.

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Calporta, Started by Avalon Ventures-GSK, Is Acquired by Merck

Xconomy

Another of the biopharma startups created as part of a collaboration between San Diego investment firm Avalon Ventures and GlaxoSmithKline has been acquired—but not by GSK. Debuting in COI (which stands for “community of innovation”). Read more » Reprints | Share: UNDERWRITERS AND PARTNERS.

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COI Pharmaceuticals Gets $576M Exit

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San Diego-based COI Pharmaceuticals , the life sciences incubator and support entity created by Avalon Ventures to support its portfolio companies, says that one of its companies, Calporta Therapeutics , has been acquired by Merck.

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Plug and Play San Diego Finds Home in New Downtown Works Space

Xconomy

Plug and Play San Diego has formed a partnership with Downtown Works, a new co-working space in downtown San Diego, which will give the local Plug and Play program a place to call home. We would like to launch an accelerator based here, and bring in additional resources from the Bay Area.”. billion under management.

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Avalon Leads $18M in Early Funding for Cancer Immunotherapy Startup

Xconomy

Fortis Therapeutics, a new San Diego biotech, has raised $18 million in initial funding to develop drugs for hard-to-treat prostate and bone marrow cancers. San Diego’s Avalon Ventures led the Series A round, and has established Fortis at COI Pharma, the firm’s biotech incubator (which now houses 16 life sciences startups).

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ScoreStream Nabs $2M For Local Sports Crowdsourcing

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San Diego-based ScoreStream said today that it has raised $2M in a seed financing round, to bring scores, pictures, and other information about high school and local sports online. Oien was previously the CEO of Chumby; ScoreStream is part of the EvoNexus incubator. READ MORE>>.

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