Afraxis, Inc.

Company Changes APELIAN, David, MD, PhD BEVERIDGE , Roy A., MD BROOKS , Danai CATAFAU , Ana M., MD, PhD COTE , Ric COX , Graham D. DAVIS , Steve GARCIA , Peter S. GOLDSMITH , Bruce A., PhD

Financings In the first quarter of 2013, start-up companies generated a total of $398.7 million across all industries, which was a 59% drop from the previous quarter’s $670.3 million. ( See Exhibit 1.

Among biotech venture backers, Avalon Ventures has been going it alone, investing in early-stage programs and platforms, longer than most of its peers. So it’s truly a sign of the difficult times when

IN VITRO DIAGNOSTICS Mergers & Acquisitions Cylex Inc. ViraCor-IBT Laboratories Inc. Diagnostics company Viracor-IBT Laboratories Inc. has acquired Cylex Inc. , a privately held firm that sells