Avalon Ventures leads Series B round for Avelas Biosciences
San Diego-based biotech company Avelas Biosciences said Thursday that it has raised $6.85 million in Series B financing. Avalon Ventures led the round with participation from new investors Torrey Pines Investment, WuXi AppTec and an unnamed investor. Also, Avalon Biosciences has promoted Carmine Stengone to CEO. He and Nikolay Savchuk, managing director for Torrey Pines Investment, will join the board of directors. Avalon has appointed Jay Lichter, managing partner for Avalon Ventures, as board chairman.
9 January 2014•3 mins read
