Avalon BioVentures Raises First Fund Dedicated to Early-Stage Biotech Investments LA JOLLA, Calif., December 6, 2022 – Avalon BioVentures, L.P., a venture capital firm dedicated to early-stage biomedical innovation, announced today the closing of its first venture fund, ABV1, with $135 million in funding from new and existing institutional investors. Avalon BioVentures emerged from Avalon Ventures (“Avalon”) shared life-science/high-tech investing funds as a life-science only fund and will continue to leverage Avalon’s proven team and company accelerator (the “Accelerator”) to create, fund, and lead companies developing breakthrough therapies to improve health. “Avalon BioVentures builds on nearly four decades of success…