The joint venture announced by GlaxoSmithKline PLC and Avalon Ventures in April 2013 continues to bear fruit at a rapid pace, as the partners announced the founding of three new single-program biotechs June 15, each of which will get $10 million in Series A funding and other support.
The latest announcement brings the number of companies launched under the partnership to six, of a planned 10, in a little over two years
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