GlaxoSmithKline, a pharmaceutical company, and Ahren Innovation Capital, an institutional investor, agreed to led a $1.15bn Series A round in Adrestia Therapeutics, a biotechnology company using cutting edge molecular biology to develop precision medicines. In addition, GSK is entering into a multi-year agreement with Adrestia on up to five strategic, collaborative projects. Adrestia will be eligible to receive up to $230m (£172m) from each project in post-option milestone payments, plus royalties, subject to development and commercialisation progress, across multiple arising products. “Adrestia’s technology has the potential to improve the lives of many patients through identifying the next generation of precision medicines. Steve is a world leading proven commercial scientist, and over the last two years the team has demonstrated the power of Adrestia’s platform. GSK is a strong partner for the next stage of Adrestia’s journey and we look forward to working together to achieve the Company’s full potential," Alice Newcombe-Ellis, Ahren Managing Partner.