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Avalon, GSK fund two more startups under collaboration

 
• By Mandy Jackson

Avalon Ventures and GlaxoSmithKline have launched Silarus Therapeutics and Thyritope Biosciences, the second and third San Diego-based biotechnology companies formed under a partnership that Avalon and GSK initiated in 2013 to fund up to 10 new startup firms.

Avalon Ventures and GlaxoSmithKline have launched Silarus Therapeutics and Thyritope Biosciences, the second and third San Diego-based biotechnology companies formed under a partnership that Avalon and GSK initiated in 2013 to fund up to 10 new startup firms.

Like Sitari Pharmaceuticals in November 2013, Silarus and Thyritope were spun out of the University of California. Each startup will receive up to $10m in venture capital funding from Avalon and GSK, and the companies will establish their operations at Avalon's incubator in San Diego that's known as COI Pharmaceuticals (scripintelligence.com,

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