We are a leading San Diego biotech venture fund focused on first-in-class innovations to transform patient care.
We invest in innovative science at the earliest stages, seeking out white space opportunities that are often too early for other investors. We like to be first and do not shy away from scientific risk. From company formation to successful exits, our hands-on approach ensures that each of our companies has the strategic guidance and operational support needed to thrive.
Through our ABV Accelerator, we provide portfolio companies with immediate access to world-class scientific, operational, and financial resources. This fully integrated model expedites development timelines and optimizes capital efficiency, with the goal of rapidly developing potentially life-changing innovations for patients who need them most.
Avalon was a true partner in supporting our novel ideas in their earliest stages, providing the critical capital and infrastructure needed to turn our vision into reality. Their unwavering support was instrumental in advancing our science into potentially groundbreaking therapies for patients.
David Campbell, Ph.D
Avalon’s founding and unwavering commitment to Synthrox along with their contributions to the financing and strategy of the company was paramount to our ability to execute.
Laura Shawver, Ph.D.
Collaborating with the team from Avalon has been a complete success. The use of the accelerator allowed for rapid and cost-effective development of our asset ultimately leading to an acquisition of the novel drug candidate to treat patients with celiac disease.
Chaitan Khosla, Ph.D
Avalon has enabled the creation of Fortis Therapeutics, Inc., which turned a discovery made in my lab into two multi-center phase I clinical trials in about two years. It has been a great experience to work with Avalon. They have provided both strong financial support and an outstanding management team to enable timely translation of laboratory research to the clinic.
Bin Liu, Ph.D.
Avalon BioVentures has been instrumental in supporting the startup of Valora by providing funding, strategic guidance, and mentorship. Their ABV “accelerator” helped raise a significant seed financing that enabled the rapid transfer, implementation, and expansion of innovative technologies from my lab. The efficient and cost-effective environment provided by ABV has helped us focus our efforts on scientific execution.
Carolyn Bertozzi, Ph.D.
Our team has a 35+ year track record of successfully financing and leading early-stage life science companies.
Jay B. Lichter, Ph.D.
Managing Partner
Jay B. Lichter, Ph.D. is a Managing Partner with Avalon BioVentures and an experienced investor and biotechnology executive. He has a strong background and over 30 years of experience in investing, operational management, scientific research, and business development. Throughout his career, Dr. Lichter has applied his exceptional combination of business acumen and deep technical knowledge to creating commercially successful biotech companies and identifying the commercial potential of scientific discoveries at their earliest stages. Dr. Lichter was an Avalon entrepreneur for four portfolio companies in Avalon V, Avalon VI and Avalon VII. As a Managing Partner in Avalon VIII-XI and Avalon Bioventures I, Dr. Lichter led investments in Aratana (IPO), Synthorx (acquired by Sanofi), Janux (IPO), Nerio (Acquired by BI) for exits valued at over $4 B, with over $800 M in realized gains.
Prior to his work with Avalon, Dr. Lichter got his PhD from the University of Illinois and did postdoctoral research at Yale and Dupont Merck Pharmaceuticals company. During his tenure as a managing director at Avalon, Dr. Lichter led over 30 investments. Between Avalon V and VI, Dr. Lichter worked as a licensing executive for Pfizer.
Sanford J. Madigan, Ph.D.
Managing Partner
Dr. Madigan is a Managing Partner with Avalon BioVentures and previously was a serial entrepreneur for Avalon Ventures portfolio companies. Dr. Madigan has a strong scientific background and 30 years of experience in corporate financing, operations, business and corporate development, and M&A. Most recently, in Avalon XI, Dr. Madigan co-founded Enlaza Therapeutics and was co-founder and CEO of Nerio Therapeutics (acquired by Boehringer-Ingelheim in July, 2024 for up to $1.3B). Previously, in Avalon X, Dr. Madigan was the transacting CEO of Calporta Therapeutics (acquired by Merck in November, 2019 for up to $576M).
Dr. Madigan was also a founding member of various Avalon Ventures portfolio companies from earlier funds, including Ambit Biosciences (IPO, acquired by Daiichi Sankyo), Xenopharm (acquired by Deltagen) and X-Ceptor Therapeutics (acquired by Exelixis).
Dr. Madigan performed his post-doctoral training at The Salk Institute for Biological Studies. He received his Ph.D. in Genetics and his B.S. in Biochemistry from The State University of New York at Stony Brook where, as a graduate student, he was awarded the Abrahams Memorial Award for outstanding potential for basic research.
Sergio G. Duron, Ph.D.
Managing Partner
Sergio Duron is a Managing Partner with Avalon BioVentures and an experienced drug discovery scientist and executive. He has a strong scientific background and over 20 years of experience in biotechnology, spanning research, company creation, and operational leadership. Since joining the Avalon portfolio companies in 2008, he has played key roles across multiple funds.
In addition to his role at ABV he co-founded Enlaza Therapeutics and serves as CEO, raising over $170 M. Previously, he was CSO and co-founder at Nerio (acquired by Boehringer Ingelheim), Calporta (acquired by Merck), and Anexigen. He was also Senior Vice President at Sitari (acquired by GSK), Vice President at Afraxis (acquired by Genentech) and Director of Chemistry at Zacharon (acquired by BioMarin). Prior to joining ABV, Dr. Duron was a scientist at Kalypsys, where he worked on multiple drug discovery projects spanning CNS diseases, pain and inflammation, metabolic diseases, and oncology.
Dr. Duron conducted postdoctoral research at The Scripps Research Institute after receiving his Ph.D. in organic chemistry from the University of Illinois at Urbana-Champaign and his B.S. in chemistry from the University of Texas at Austin.
Tighe M. Reardon, CPA
Chief Financial Officer & Managing Partner
Tighe Reardon is a Managing Partner with Avalon BioVentures and an experienced financial executive. He has a strong technical background and over 25 years in senior finance and taxation roles across start-ups and large public companies. As CFO of the Accelerator and its portfolio companies, he plays a critical role in financial strategy and operations.
Mr. Reardon served as Acting CFO of Janux (JANX) from its inception through a key data release resulting in a company valuation of over $3 billion. During his tenure, he helped the company raise more than $750 million from private and public markets. He also served as Acting CFO of Synthorx (THOR), from its inception and through its IPO and $2.5 billion acquisition by Sanofi, and as CFO and Director of Nerio Therapeutics, which was acquired in 2024 for up to $1.3B.
Before joining Avalon, Mr. Reardon was Senior Vice President of Tax and Treasury at DJO Global, Inc., a $1.2 billion multinational medical device manufacturer. He also served as Director of Taxation for Relational Investors, LLC, a $7 billion public equities fund.
Mr. Reardon began his career at Arthur Andersen LLP. He holds an M.S. in Taxation and a B.S. in Accounting from San Diego State University and is a Certified Public Accountant (CPA) in the State of California.
Kevin J. Kinsella
Founding Partner – Emeritus
Kevin Kinsella founded Avalon in 1983. He has specialized in the formation, financing and/or development of more than 60 early-stage companies, including: Athena Neurosciences (acquired by Elan Corporation, plc (NYSE: ELN)); Illumina (NASDAQ: ILMN), Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX); Sequana Therapeutics (NYSE: CRA); Vertex Pharmaceuticals, Inc. (Nasdaq: VRTX); Synaptics, Inc. (Nasdaq: SYNA); Vocera Communications (NYSE: VCRA); JNANA Therapeutics (acquired by Otsuka); and Sytera Ophthalmics Inc. (acquired by Sirion Therapeutics). Mr. Kinsella was the founding chairman of Athena Neurosciences, Aurora Biosciences Corporation, Landmark Graphics, NeoRx, Onyx Pharmaceuticals, Inc., Synaptics, Vertex Pharmaceuticals, X-Ceptor and Sequana Therapeutics.
Mr. Kinsella is a graduate of the Massachusetts Institute of Technology (MIT) with a Bachelor of Science degree in Management, with minors in electrical engineering and political science. He holds a Master of Arts degree in International Relations from the Johns Hopkins School of Advanced International Studies (SAIS) and conducted post-graduate work in political economy on a Rotary International Fellowship at the University of Stockholm, Sweden.
Mr. Kinsella is a member of the Board of Directors of Eikonizo Therapeutics. He is a member of the Council on Foreign Relations.
Abby Beers
FP&A Manager
Abby Beers joined the Accelerator in 2014 and serves as Financial Planning & Analysis Manager, supporting financial strategy and operations across all portfolio companies. She holds an M.B.A. from Cornell University and a B.S. in Biology from the University of California, Santa Barbara.
Megan Belina
Administative Assistant
Megan Belina joined the Accelerator in January of 2024 and serves as Administrative Assistant, providing operational support across all portfolio companies. She holds a B.S. in Business Administration from San Diego State University.
Fernando Camejo
Senior Accounting Manager
Fernando Camejo joined the Accelerator in 2019 and serves as Senior Accounting Manager, overseeing accounting operations. He brings extensive experience in corporate finance, having previously held accounting leadership roles at Beckton Dickinson, Novartis, and AstraZeneca. Fernando earned his B.S. in Accounting from California State University San Marcos.
Stephen Elmendorf, CPA
Fund Controller
Stephen Elmendorf joined the Accelerator in 2015 and serves as Fund Controller, overseeing fund accounting and financial reporting. Prior to joining the Accelerator, he held various accounting and information systems roles at DJO. Stephen holds a B.S. from the University of Southern California and is a California Certified Public Accountant.
Manny Juarez
Facilities & Lab Manager
Manny Juarez joined the Accelerator in 2024 and serves as Lab and Facilities Manager, overseeing operations, procurement, EHS, and lab management. With a strong background in the biotech industry, he has held roles spanning operations, facilities, and safety management.
Katie Klink, CPA
VP, Finance
Katie Klink joined the Accelerator in 2021 and serves as VP of Finance, overseeing financial strategy and operations. She is a California Certified Public Accountant with over a decade of experience in both private and public accounting, specializing in the biotech industry. Katie holds a B.S. in Management Science with a Minor in Accounting from the University of California, San Diego.
Eben Massari, PH.D.
Advisor
Eben Massari, Ph.D. joined the Accelerator in 2020, bringing more than 20 years of experience in small-molecule drug discovery. He currently serves as Chief Scientific Officer (CSO) of Cohesyx Bio and SVP, Biology at Protalys Therapeutics.
Previously, Dr. Massari was Sr. Vice President of Biology at Nerio Therapeutics which was acquired by Boehringer Ingelheim in 2024. Prior to joining ABV, he served as Vice President of Screening and CNS Discovery with Plexium. Dr. Massari was also Director of Lead Discovery at Dart Neuroscience where he was a project leader for the PDE2 inhibitor program that advanced two molecules into the clinic for cognitive impairment associated with schizophrenia and stroke rehabilitation. Prior to his time at Dart, Dr. Massari served as Investigator and Head of Screening at Kalypsys. Dr. Massari was also a Sr. Research Biologist at Merck Research Laboratories where his work contributed to programs for pain, stroke, and new technology development. He is a co-author of 24 publications and co-inventor on multiple patents.
Dr. Massari completed his postdoctoral training at the University of California, San Diego. He earned his Ph.D. in Biology from the University of California, San Diego, and his B.A. in Biology from the University of California, Santa Cruz.
Jason Roland, PH.D.
Advisor
Jason Roland, Ph.D., joined the Accelerator in 2015, bringing with him more than 15 years of leadership experience in medicinal chemistry and drug discovery. He currently serves as Chief Scientific Officer (CSO) at Protalys Therapeutics and Vice President of Chemistry at Cohesyx Bio.
Previously, Dr. Roland held the role of Vice President of Chemistry and Drug Discovery at Nerio Therapeutics (acquired by Boehringer Ingelheim). Additionally, he served as Director of Chemistry at Calporta Therapeutics (acquired by Merck) and contributed as a key member of the chemistry team at Sitari Pharmaceuticals (acquired by GSK).
Before these roles, Dr. Roland was a Principal Investigator at the California Institute for Biomedical Research (Calibr), where he led medicinal chemistry programs supported by the Bill and Melinda Gates Foundation, with a particular focus on neglected tropical diseases. Earlier in his career, Dr. Roland was a Research Investigator at the Genomics Institute of the Novartis Research Foundation (GNF), where he was instrumental in developing nidufexor (LMB763), a novel FXR agonist.
Dr. Roland completed his postdoctoral training as a Ruth L. Kirschstein NRSA Fellow at Princeton University under the mentorship of Dr. Erik Sorensen. He earned his Ph.D. in Chemistry from the University of California, Irvine, and his B.S. in Chemistry from The Ohio State University.
Christy Sayers
Head of Human Resources
Christy Sayers joined the Accelerator in 2012 and serves as Head of Human Resources, leading HR strategy and fostering a dynamic workplace culture across all portfolio companies. She previously built a strong foundation in business operations and executive support, holding roles at Avalon BioVentures and Avalon Ventures. Christy holds a B.B.A. in Business Administration from the University of San Diego and a certification in Human Resources Management from UCSD.
Lauri Sutor
Accounts Payable Manager
Lauri Sutor joined the Accelerator in 2015 and serves as Accounts Payable Manager, managing financial transactions and vendor relationships as well as all the day-to-day AP operations. She has extensive experience in accounting roles across the pharmaceutical and technology industries, with previous positions at Cadence Pharmaceuticals, Sony Ericsson, and Intuit. Lauri earned a B.S. in Criminal Justice Administration from San Diego State University.
Adrienne Terrazas
Executive Admin
Adrienne Terrazas joined the Accelerator in 2023 and serves as Executive Assistant to the Partnership and senior executives across portfolio companies. She brings extensive experience as a legal and executive assistant, having supported leaders across various industries in Southern California.
We back talented entrepreneurs and organizations looking to become market-leading companies.
AeroRx Therapeutics, Inc, which was incorporated into the Accelerator, is a clinical-stage biopharmaceutical company, developing best-in-class combination treatments for inhalation delivery via nebulization in Chronic Obstructive Pulmonary Disease ("COPD") for underserved, high risk, older COPD patients.
Aratana Therapeutics, Inc. was a pet therapeutics company focused on the development and commercialization of innovative therapeutics for dogs and cats. The company’s mission was to develop and deliver best-in-class therapeutics and provide comprehensive service to veterinarians. The company developed highly differentiated therapeutics and was acquired by Elanco Animal Health in 2019. Avalon exited its position in Aratana in 2016.
Arialys, which was founded in the Accelerator, is dedicated to meaningfully expand the treatment possibilities for neuropsychiatric disorders driven by autoimmune disease. Using a combination of highly sensitive autoantibody detection, patient sampling and receptor structural biology, Arialys has developed a first-in-class precision therapy to specifically block pathogenic autoantibodies in the brain.
Calporta, which was founded in the Accelerator, was focused on developing selective small molecule agonists of TRPML1 (transient receptor potential cation channel, mucolipin subfamily, member 1) for the treatment of lysosomal storage diseases. The company was acquired by Merck for up to $576M in 2019 based on the therapeutic potential of its lead assets.
Cohesyx Bio, which was founded in the Accelerator, is developing novel immune cell-targeted antibody-drug conjugates (iADCs) that can either activate or suppress immune response to address unmet medical need in cancer and inflammatory disease. The company’s Rx2 platform leverages previously approved therapeutic antibodies to deliver drug payloads to immune cells. This unique approach confers two key advantages; first, antibody-mediated delivery can reduce toxicity and increase exposure of the drug payload. Secondly, the targeting antibody has clinically proven efficacy thus allowing additive or synergistic effects in combination with the appropriate drug payload. The result is improved efficacy by leveraging the benefits of a combination treatment with a single therapeutic entity.
Enlaza Therapeutics, which was founded in the Accelerator, is pioneering the field of covalent biologics. Enlaza’s breakthrough War-LockTM technology enables generation of unique, highly-selective biologic drugs that are engineered to become warheads with the capacity to irreversibly lock to disease related targets. We leverage our novel synthetic biology platform, coupled with proprietary amino acids, to precision-engineer biological medicines with improved efficacy and safety profiles. Enlaza is building a pipeline of first-in-class covalent biologics to treat a variety of diseases from cancer to auto-immunity.
Fortis Therapeutics, which was founded in the Accelerator, is an immuno-oncology biotech focused on developing new antibody drug conjugate therapies against CD46 for the treatment of late-stage multiple myeloma and late-stage prostate cancer and other indications. In 2023 Fortis licensed its lead clinical asset to Fibrogen, Inc. in exchange for a potential acquisition payment of $80M and additional milestones up to $120M.
Janux, which was founded in the Accelerator, is a clinical-stage company focused on developing tumor-activated immunotherapies precision-engineered to transform the lives of patients. Janux is using its platform masking technology to engineer novel drug candidates that are designed to overcome the traditional T cell engager toxicity and efficacy limitations. Avalon exited its positions in Janux in 2024 following key clinical data updates.
Jnana Therapeutics was a clinical-stage biotechnology company leveraging its next-generation chemoproteomics RAPID platform to discover medicines for highly validated, challenging-to-drug targets to treat diseases with high unmet need. Jnana focused on developing first- and best-in-class therapies to treat a wide range of diseases, including rare diseases and immune-mediated diseases. Jnana’s wholly owned lead program, a potential first-in-class oral approach targeting an allosteric site on the phenylalanine transporter SLC6A19, was being developed for the treatment of phenylketonuria (PKU), a rare genetic metabolic disease. The company was acquired in 2024 by Otsuka Pharmaceuticals for $800M up front and an additional $325M in milestones.
Korsa Therapeutics, which was founded in the Accelerator, is focused on generating a novel class of therapeutic antibodies. Current monoclonal antibody drugs only target extracellular surface molecules or secreted proteins. Korsa technology allows for monoclonal antibodies to enter inside the cell and bind intracellular targets. Our platform can directly expand the druggable space and unleash the power of monoclonal antibodies on previously undruggable intracellular targets.
Nerio Therapeutics, which was founded in the Accelerator, was a biopharmaceutical company intended to empower phosphatase drug discovery for immunotherapy. The company discovered novel phosphatase modulators, utilizing deep expertise in protein phosphatases, high-throughput screening technologies and structure-guided chemistry approaches. The company was acquired in 2024 by Boehringer-Ingelheim for up to $1.3B based on the therapeutic potential of its lead assets.
PDI Therapeutics, which was founded in the Accelerator, was a biotechnology company that developed a first in class monoclonal antibody to potentially treat patients with a number of different cancers. Cullinan Therapeutics and PDI entered into a research collaboration to bring its lead asset into the clinic in 2020, which ended in Cullinan acquiring PDI in October of 2022.
Protalys Therapeutics, which was founded in the Accelerator, is an emerging biotechnology company at the forefront of addressing challenges with Proteolysis Targeting Chimeras (PROTACs). The company’s innovative strategy involves using proven, in situ carriers for small-molecule drugs to deliver potent degraders to solid tumors. By leveraging these carriers, the company anticipates a significant enhancement in the pharmacokinetic properties of PROTACs. Protalys’ approach may solve issues associated with many proposed solid tumor targets, including targets considered “undruggable.” This platform has the potential to rescue failed PROTACs and serve as a launchpad for novel drug discovery, expanding the possibilities of targeted protein degradation in oncology.
RQx Pharmaceuticals, Inc., which was founded in the Accelerator, is a clinical stage biopharmaceutical company developing broad spectrum antibiotics. The Company optimized natural product chemical scaffolds against a novel molecular target for which no antibiotic has been developed. Additionally, RQx has generated proprietary molecules based on a novel chemical scaffold. RQx partnered with Genentech for up to $111M in 2013 for development of the RQx proprietary antibiotic chemical scaffolds.
Sitari Pharmaceuticals, which was founded in the Accelerator, was a biotechnology company developing treatments for celiac disease. The company was founded in 2013 by Avalon Ventures and GlaxoSmithKline (GSK). GSK acquired Sitari in 2019.
Synthorx, which was founded in the Accelerator, was a clinical stage biotechnology company using revolutionary, proprietary nucleotides to expand the genetic alphabet. Incorporation of the synthetic nucleotides provided unique solutions for the discovery and development of novel therapeutics. Synthorx set out to develop novel proteins, RNA and DNA for medical applications. Synthorx was acquired by Sanofi in 2020 for $2.5B.
Valora Therapeutics, which was founded in the Accelerator, is pioneering a new biologic platform invented by Nobel Laureate Dr. Carolyn Bertozzi of Stanford University. The company’s proprietary platform technology enables the engineering of multi-specific chimeric antibodies to target disease alterations of glycoimmune signaling, thereby enabling the development of transformative therapies in oncology, immune diseases, and beyond.
Careers
Explore life science job opportunities across our network of portfolio companies.
