Avalon BioVentures, a La Jolla, CA-based enterprise capital agency devoted to early-stage biomedical innovation, closed its first enterprise fund, ABV1, at $135M.
Avalon BioVentures emerged from Avalon Ventures shared life-science/high-tech investing funds as a life-science solely fund and can proceed to leverage its confirmed group and firm accelerator (the “Accelerator”) to create, fund, and lead firms growing breakthrough therapies to enhance well being.
With ABV1, Avalon BioVentures will proceed Avalon’s custom of figuring out early-stage improvements and probably the most thrilling scientific analysis. The brand new fund creates firms and locations them inside its Accelerator, an present, absolutely operationalized, R&D infrastructure to expedite revolutionary therapeutic approaches in areas of unmet scientific want.
The Managing Companions of Avalon BioVentures are Jay Lichter, Ph.D., Tighe Reardon, CPA, Sanford (Sandy) J. Madigan, Ph.D., and Sergio G. Duron, Ph.D. Mr. Reardon additionally serves as Chief Monetary Officer.
Avalon’s historical past contains founding investments in firms similar to: Vertex Prescribed drugs, Onyx Prescribed drugs, Amira Prescribed drugs, and Neurocrine Biosciences. Extra lately, firms based and led by the Managing Companions of Avalon BioVentures embrace, amongst others, Sitari Prescribed drugs (acquired by GSK), Calporta (acquired by Merck), Synthorx (acquired by Sanofi), Janux Therapeutics (IPO in 2021), and PDI Therapeutics (acquired by Cullinan Oncology).