GSK’s undercover incubator baked three new Biotechs

15/06/2015 - 2 minutes

The partnership between GlaxoSmithKline and Avalon Ventures launched three early-stage life science companies. Adrenergics, CadheRx Therapeutics and Calporta Therapeutics will each receive up to €8.9M in a Series A financing, aside from support from their two godfathers.

Three new companies were launched today as a result of Avalon’s fruitful collaboration with GSK. The partnership, which aims at funding and promoting up to 10 early-stage life science businesses, is at halfway with these three new creations. Adrenergics, CadheRx Therapeutics and Calporta Therapeutics bring the total number of outcomes of the collaboration in just two years to six.

The three companies will be located at Avalon’s incubator in San Diego. Adrenergics will focus on cardiomyopathies, whereas CadheRx and Calporta will target solid tumors and Niemann-Pick C Disease, respectively.

The fertile collaboration was established back in April 2013 and will provide up to €439.7M to fund companies through preclinical proof of concept. The previous companies launched through the collaboration include Sitari Pharmaceuticals, Silarus Therapeutics and Thyritope Biosciences.

GSK’s game is a clever one,

This content is available exclusively to our paying members.

Our members receive the following benefits:

  • Unlock premium articles
  • Download our industry reports
  • Remove all banner ads
  • Access 1,500+ archived posts
  • Support our independent media
Already a member? Sign in
ADVERTISEMENT
Do you want to remove this advert? Become a member!
ADVERTISEMENT
Do you want to remove this advert? Become a member!