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Business

GSK, Avalon Launch Two New Companies

by Michael McCoy
September 29, 2014 | APPEARED IN VOLUME 92, ISSUE 39

Glaxo­SmithKline and the venture capital firm Avalon Ventures have formed their second and third companies as part of a collaboration that began in 2013 to jointly invest up to $495 million in 10 new firms. Sitari Pharmaceuticals was formed last November to target celiac disease. The partners now have created Silarus Therapeutics, which is targeting iron disorders using intellectual property from UCLA, and Thyritope Biosciences, a thyroid disease firm based on technology from UC Santa Barbara. Both will receive up to $10 million in funding plus R&D support.

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