Expanded syndicate puts Avelas onto the PoC track with $20M cancer tech round
Avelas Biosciences belongs to a cluster of San Diego-based biotechs founded by Jay Lichter’s Avalon Ventures. It was the third of three companies Avalon founded with tech from Nobel laureate Roger Y. Tsien. And the biotech is now doubling the amount of venture cash it has raised with a $20 million round designed to take it well into mid-stage development with a new technology that has honed what it believes is a better approach to penetrating cancer cells with peptides—which could have a variety of applications.
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