Brief: Avalon ventures says launch of three new companies formed through its ongoing collaboration with GSK

Avalon Advanced Materials

15/06/2015 13:09

June 15 (Reuters) - Avalon Rare Metals Inc  AVL.TO : 
 * Ventures says launch of three new companies formed through its ongoing 
   collaboration with GSK 
 * Ventures-cadherx therapeutics,calporta therapeutics,to each get up to $10 
   million in series a financing,r&d support from Avalon ventures and gsk 
 * Ventures-to provide adrenergics,cadherx,calporta with operational management 
   consistent with its current portfolio strategy 
 * Ventures-gsk has the option to acquire each of the companies upon the 
   identification of a clinical candidate 
 * Ventures-should gsk elect not to exercise acquisition option on any of the 
   companies, ownership of those companies will remain with Avalon 
 
 * Source text for Eikon  ID:nPn6ZpXCv  
 
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