Avalon Ventures and COI Pharmaceuticals sold Sitari Pharmaceuticals to GSK.

Avalon Ventures and COI Pharmaceuticals sold Sitari Pharmaceuticals, a developer of a novel treatment for celiac disease, to GlaxoSmithKline, a British multinational pharmaceutical company. Financial terms were not disclosed. “Over the last six years, GSK and Avalon have pioneered a unique biotech funding model designed to identify novel targets from top-tier academic labs and translate cutting-edge discoveries into promising clinical candidates,” said John Lepore, SVP, Research, GSK. “Bringing the Sitari TG2 program into GSK is strongly aligned with our research focus on genetically-associated targets and immune-driven disease. The current standard of care for celiac disease is strict adherence to a gluten-free diet, but a significant number of patients still experience gastrointestinal symptoms and disease progression. TG2 inhibition could represent a new hope for celiac disease patients.”