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Sitari Pharmaceuticals, First Company Launched Through Avalon Ventures-GlaxoSmithKline Collaboration, Raises up to $10 Million Series A Financing and R&D Support
Date:11/22/2013

ntional venture-pharma entity that provides life science inventors with an environment where entrepreneurial and scientific risks are encouraged and rewarded. This Community of Innovation (COI) was established to support companies funded through a collaboration between Avalon Ventures and GlaxoSmithKline, and provides the intellectual capital to launch companies, a fully-equipped R&D infrastructure and industry mentors prepared to leverage their expertise to help entrepreneurial scientists succeed. COI, founded in 2013, provides operational support to Sitari Pharmaceuticals, the first company funded through the Avalon-GSK collaboration, as well as existing Avalon portfolio companies, Afraxis, Avelas Biosciences, RQx Pharmaceuticals and Sova Pharmaceuticals.

About Avalon Ventures

Avalon Ventures is a venture capital firm that has founded and/or funded more than 100 information technology and life sciences companies. The firm is passionate about backing talented entrepreneurs seeking to build market-leading companies. Throughout the firm's 30 year tenure, Avalon's long-standing and successful focus has been on seed and early-stage companies. All Avalon partners are seasoned entrepreneurs with experience in company formation, operations and value creation in the life science and tech sectors. Avalon's current fund of $200 million, launched in 2012, continues the firm's tradition of pursuing disruptive ideas in ever changing markets.

Media Contact:
Heidi Chokeir, Ph.D.
Canale Communications
heidi@canalecomm.com
(619)203-5391


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