Avelas Biosciences Raises $20M

San Diego-based biopharmaceuticals developer Avelas Biosciences has raised $20M in a Series C funding, according to the company. The new funding was led by Pharmstandard International, S.A., and laos included Ervington Investments Limited and Alexandria Venture Investments plus Avalon Ventures, Bregua Corporation, and WuXi Healthcare Ventures. Avelas Biosciences is developing treatments for cancer. Andrei Petrov, Ph.D., has joined the company's board as a result of the funding; Petrov represents Pharmstandard International, and is at Inbio Ventures. More information »