Scoop: Aval­on, MPM back new CNS biotech with sci­en­tif­ic chops from Astel­las

A pre­clin­i­cal cen­tral ner­vous sys­tem biotech is in the works in La Jol­la, CA, and the drug de­vel­op­er has reeled in cap­i­tal from a syn­di­cate of in­vestors, End­points News has learned.

Ar­ialys Ther­a­peu­tics filed in­cor­po­ra­tion doc­u­ments in the Gold­en State last De­cem­ber and ap­plied its name for trade­mark pro­tec­tion with the US Patent and Trade­mark Of­fice the week pri­or to that. Pa­per­work with the SEC al­so out­lines plans to of­fer up eq­ui­ty in ex­change for $55 mil­lion.

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