Avalon Ventures

ARIAD Pharmaceuticals Inc. develops breakthrough medicines that regulate cell-signaling pathways implicated in cancer. The company’s pipeline includes a series of small molecule product candidates that provide targeted and highly potent anti-cancer activity to treat solid tumors and hematologic cancers, as well as the metastatic spread of tumors.

Athena Neurosciences was engaged in research and development of therapeutic products to cure Parkinson’s and Alzheimer’s.  It was acquired by Elan Corporation, plc.

Aurora Biosciences Corporation designs and develops proprietary drug discovery systems.  The company developed an integrated technology platform comprised of a portfolio of proprietary fluorescent assay technologies and an ultra-high throughput screening system designed to allow assay miniaturization and to overcome many of the limitations associated with the traditional drug discovery process. It was acquired by Vertex Pharmaceuticals Inc.

Caliper Life Sciences, Inc. combines microfluidics, liquid handling and laboratory automation to deliver unique research tools for today’s drug discovery and development and genomics and proteomics laboratories.

GenPharm International created transgenic animals for use in biotechnology research and drug development. It was acquired by Medarex Inc. (MEDX).

Idun Pharmaceuticals, Inc. was formed to discover and develop therapies to control apoptosis, a process of cell death that occurs in a broad range of diseases. Acquired by Pfizer Inc.

Impath was a specialized immunohistopathology lab with an emphasis on predictive oncology.

Metra Biosystems was engaged in the diagnosis, detection and management of osteoporosis and other bone diseases. It was acquired by Quidel Corporation.

Microcide (acquired by Essential Therapeutics) was involved in the discovery and development of novel antimicrobial drugs.

NeoRx was engaged in the research and development of products for targeted delivery of anti-cancer agents, including radiopharmaceuticals, directly to sites of disease. It was acquired by Poniard Pharmaceuticals, Inc.

Neurocrine Biosciences, Inc. is a product-based biopharmaceutical company developing therapeutics for neurological and endocrine diseases and disorders. Product candidates address some of the largest pharmaceutical markets in the world including insomnia, anxiety, depression, irritable bowel syndrome, pain, and CNS-related disorders.

Onyx Pharmaceuticals, Inc. develops innovative small-molecule cancer treatments based on a molecular understanding of cancer. The company’s lead product is Nexavar® (sorafenib) tablets, a novel, oral multiple kinase inhibitor that targets proteins involved in both tumor cell proliferation and angiogenesis (the formation of new blood vessels to support cancer cell growth). This product is being developed and marketed in collaboration with Bayer Pharmaceuticals Corporation. Nexavar has been approved by the U.S. and E.U. for treating patients with advanced kidney cancer.

Pharmacopeia, Inc.’s goal is to identify, optimize and develop highly efficacious small molecule drug candidates with low risk profiles and large market opportunities with a primary focus on therapeutics for immunological diseases.

Avalon invested in River Medical, whose founder invented an elegantly clever, non-electronic device to deliver a steady stream of intravenous (“IV”) fluids. While this product was in development, Eli Lilly indicated its desire to divest itself of non-core pharmaceutical businesses.  One of these, IVAC Corporation, was a San Diego-based leading manufacturer of electronic IV systems.  Donaldson Lufkin and Jenrette Merchant Banking (“DLJ”) approached River to be the management core for a leveraged buy-out (“LBO”) of IVAC Corporation, which DLJ and Chase would finance.  The LBO for $180 million was completed and within ten months, the successor company, named IVAC, was sold to IMED for cash, which provided Avalon an exceptional return in 20 months.  

Sequana Therapeutics was one of the first genomics companies and it was founded by Avalon. Although Avalon had intensely studied the area for a half decade prior, the Firm waited to see seminal developments in the field of positional cloning which would enable the relatively rapid isolation and characterization of disease genes, yielding novel targets for bio-pharmaceutical discovery.

Spectra Biomedical, Inc. was a biotechnology company created to use a focused bit of genomic bioinformatics, centered on various neurological conditions. It was acquired by GlaxoSmithKline.

Vertex Pharmaceuticals, Inc. is a global biotechnology company committed to the discovery and development of breakthrough small molecule drugs for serious diseases. Vertex co-discovered the HIV protease inhibitor, Lexiva, with GlaxoSmithKline.