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.

Avalon’s Jay Lichter serves as president and CEO of the biotech, which has been in stealth for the past two years and is running with a lean crew of seven to eight employees in addition to consultants. The company is tackling immunoneuropsychiatry, an emerging field examining how inflammation and autoimmune reactions impact the brain.

“How can we leverage the tools of I/O, and understanding of immunology through the last 15 years, and apply them to a whole new…
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