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GSK/Avalon Incubator Launches New Firms For Cardiac, Cancer, Lysosomal Storage Disorders

The partnership between GSK and Avalon has now launched six new biotechs in just over two years, each housed at Avalon’s incubator space in San Diego.

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...

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