Avalon’s latest biotech closes $58M round as it pursues treatments for autoimmune brain conditions

Ar­ialys Ther­a­peu­tics an­nounced Tues­day that it tied the bow on a $58 mil­lion seed round to de­vel­op treat­ments specif­i­cal­ly for brain dis­or­ders caused by im­mune re­ac­tions.

End­points News re­port­ed in De­cem­ber that the CNS biotech was work­ing on a $55 mil­lion round, which was backed by Aval­on BioVen­tures, MPM Cap­i­tal and Catalys Pa­cif­ic. John­son & John­son’s ven­ture cap­i­tal arm and Alexan­dria Ven­ture In­vest­ments al­so took part in the big seed round.

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