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Avelas Biosciences raises $20 mln

Avelas Biosciences Inc said Aug 18 that it completed a $20 million Series C round of financing led by Pharmstandard International SA. New investors include Ervington Investments Ltd and Alexandria Venture Investments, while existing investors Avalon Ventures, Bregua Corp and WuXi Healthcare Ventures also participated in the financing. San Diego-based Avelas is a clinical stage oncology-focused company.

Source: PRNewswire