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Avalon Leads $18M in Early Funding for Cancer Immunotherapy Startup

Xconomy

Fortis Therapeutics, a new San Diego biotech, has raised $18 million in initial funding to develop drugs for hard-to-treat prostate and bone marrow cancers. San Diego’s Avalon Ventures led the Series A round, and has established Fortis at COI Pharma, the firm’s biotech incubator (which now houses 16 life sciences startups).

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COI Pharmaceuticals Gets $576M Exit

socalTECH

San Diego-based COI Pharmaceuticals , the life sciences incubator and support entity created by Avalon Ventures to support its portfolio companies, says that one of its companies, Calporta Therapeutics , has been acquired by Merck. The deal is worth up to $576M, including upfront payments and contingent milestone payments. READ MORE>>.

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Avelas Biosciences Gains $7.65M For Tumor Visualization

socalTECH

San Diego-based Avelas Biosciences has raised $7.65M in a Series A funding round, which it says will go towards clinical studies for its technology for real-time tumor visualization. The funding came from Avalon Ventures. Avelas is developing technology for visualizing cancerous lymph nodes in breast cancer patients.

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Avelas Biosciences Raises $6.85M

socalTECH

San Diego-based Avelas Biosciences announced today that it has raised $6.85M in a Series B funding round, for the company''s technology for illuminating cancer cells. The company said the funding came from Avalon Ventures, and also included Torrey Pines Investment, WuXi AppTec, and an additional, un-named investor. READ MORE>>.

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Synthorx Raises $10M

socalTECH

San Diego-based Synthorx , a developer of protein therapeutics technology, said it has raised $10M in a Series B financing this morning. The funding was led by RA Capital Management, and also included Avalon Ventures and Correlation Ventures. The company's technology is based on research from The Scripps Research Institute.

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Avelas Biosciences Finds $7.4M

socalTECH

San Diego-based Avelas Biosciences , which is developing cell penetrating peptides to light up cancerous tissue in patients during surgery, has raised $7.4M The second tranche of the company''s Series B came from investors Avalon Ventures, Torrey Pines Investment and WuXi PharmaTech Investments. in a Series B funding.

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Proximal Data In Deal With LSI

socalTECH

San Diego-based server side caching software developer Proximal Data has inked a deal with LSI Corporation , where LSI will integrate its server-side caching technology with a PCIe flash application acceleration product. Proximal Data is venture backed by Divergent Ventures and Avalon Ventures. READ MORE>>.

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