WuXi AppTec backs Avelas Biosciences

Jan 14, 2014 • Quentin Carruthers

Chinese-US contract researcher joins $6.85m series B financing round for US biotechnology company Avelas Biosciences.

Avelas Biosciences, a US-based biotechnology company focused on developing fluorescent technologies that advance a new standard-of-care for cancer surgery, has closed a $6.85m tranche of a series B financing round, bringing the total funds raised since inception to approximately $14m. The financing was led by founding investor, venture capital firm Avalon Ventures, joined by new investors, life-science investment company Torrey Pines Investment, WuXi AppTec, a China and US-based contract researcher for the pharmaceutical, biotech and medical device industries, and an…

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