GlaxoSmithKline PLC's six-year old drug development collaboration with Avalon Ventures has resulted in a single acquisition by GSK. The companies announced on 11 September that GSK will buy Sitari Pharmaceuticals, the first company formed under the GSK-Avalon partnership in 2013.
GSK Buys One Of Eight Firms Formed In VC Partnership With Avalon
Celiac disease specialist Sitari was the first company formed under the six-year collaboration. Three were shut down and Avalon controls the other four, which aren't compatible with GSK's new R&D focus.
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