GSK’s venture arm invests in Massachusetts biotech
SR One, the venture capital arm of GlaxoSmithKline{[/a}}, is part of the syndicate investing $40 million in Aileron Therapeutics, a biotech firm based in Massachusetts.
SR One has invested some $600 million in more than 130 companies over the past 24 years.
{{a href="external_link-5305961"}}Aileron is focused on what it calls “stapled peptides.” Aileron’s technology enables the “stapling,” or synthetically locked, compounds for potential treatments of cancer, immune system ailments, metabolic diseases and infectious diseases.
“We believe that stapled peptides could represent a ‘fourth estate’ in therapeutics, emerging as a major class akin to small molecules, antibodies and vaccines,” said Michael Diem, a partner at SR One. “The strength of the technology and team at Aileron will ultimately lead to a fundamental paradigm shift in how disease is treated and we are thrilled to be a part of Aileron’s future.”
Other investors include Excel Medical Fund, and existing Aileron backers Apple Tree Partners, Novartis Venture Fund, Lilly Ventures and Roche Venture Fund.
Featured
Hot Off The Wire
- Hot Off the Wire – Google phone now runs on AT&T network; Microsoft told to pay $106M in patent dispute; Bing gains market share
- Hot Off the Wire – Maryland firm BroadSoft files for IPO; Twitter preps China page; John Grisham’s Firm, other titles now e-books
- Hot Off the Wire – Apple charges $107 for iPad batteries; Amazon drops Colorado affiliates like it did in N.C.; Facebook expands in India
E-mail Preferences
