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Avila Therapeutics Nets $30 Million Series B Funding

Wednesday, July 29, 2009 5:36:00 AM PDT | VentureDeal Staff

Waltham, Massachusetts  --  Biotechnology company Avila Therapeutics has raised $30 million in its second round of institutional venture capital financing.

Avila says that it is "focused on the discovery and development of novel small molecule therapeutics."

Novartis Venture Fund led the round, which also included Abingworth Management, Advent Venture Partners, Atlas Venture and Polaris Venture Partners. The company said that the funding proceeds would be used to move its first program into clinical trials.

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