Silarus Therapeutics, Inc., a San Diego, CA-based developer of therapeutics for the treatment of anemia and iron overload disorders, will receive up to $10m in Series A financing and R&D support.
Backers included Avalon Ventures and GlaxoSmithKline (GSK), through their collaboration to fund and launch up to 10 early-stage life science companies established in April 2013.
Based on intellectual property in-licensed from the University of California, Los Angeles, that was discovered by investigators Tomas Ganz, M.D., Ph.D., Professor of Medicine, Department of Pathology and Laboratory Medicine and Elizabeta Nemeth, Ph.D., Professor of Medicine, Division of Pulmonary and Critical Care, both of the UCLA David Geffen School of Medicine, Silarus Therapeutics is developing therapeutics targeting erythroferrone for the treatment of iron deficiency (anemia) and iron overload disorders.
Erythroferrone is a recently-discovered hormone that regulates the iron supply for red blood cell production.
Based on the terms of the Avalon-GSK collaboration established in April 2013, Avalon will provide Silarus with executive leadership and operational management consistent with its current portfolio strategy. GSK has the option to acquire each of the companies upon the identification of a clinical candidate. Should GSK elect not to exercise this option, ownership of Silarus will remain with Avalon, and Avalon will be free to enter into other strategic transactions.
FinSMEs
22/09/2014