What stage does Avalon BioVentures invest at?

Avalon BioVentures invests at the Pre-Seed, Seed, Series A stages.

What sectors does Avalon BioVentures focus on?

Avalon BioVentures focuses on Biotech, Healthtech, Medical Devices.

Where is Avalon BioVentures located?

Avalon BioVentures is headquartered in San Diego, US.

Does Avalon BioVentures lead rounds?

Yes, Avalon BioVentures leads investment rounds.

Avalon BioVentures

Venture capital

San Diego · Pre-Seed–Series A · 18 people tracked

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Investment thesis

Avalon BioVentures backs innovative, early-stage life science companies, deliberately pursuing white-space, first-in-class opportunities that other investors often consider too early. The firm embraces scientific risk and prefers to be first into a space. Through its ABV Accelerator, it provides portfolio companies with hands-on scientific, operational, and financial resources from company formation through exit, aiming to compress development timelines and improve capital efficiency. Drawing on a 35+ year track record of financing and leading early-stage biotech companies, the team offers strategic guidance and operational support with the goal of rapidly advancing potentially life-changing therapies to patients in need.

Invests inBiotech Healthtech Medical DevicesLa JollaSan DiegoUnited States

Source: firm website, verified Aug 11, 2026.

Stage

Pre-Seed–Series A

San Diego, California, US

Leads rounds

Leads

Instruments

Equity

Founded

1983

Last 12 months

2 investments

AUM

$135M

VC funds

Tracked investments

Team · 18 people

from the firm's website & public directories

Kevin J. Kinsella· Founding Partner – Emeritus· San Diego County, California, United Statesin

Founded Avalon in 1983 and helped form, finance, and develop more than 60 early-stage companies including Illumina, Vertex, Synaptics, and Onyx. Holds a B.S. from MIT and an M.A. from Johns Hopkins SAIS.

Jay B. Lichter· Managing Partner· Rancho Santa Fe, California, United Statesin

Managing Partner with over 30 years of experience in investing, operations, scientific research, and business development. Led investments in Aratana, Synthorx, Janux, and Nerio, generating over $4B in exits and $800M+ in realized gains. Holds a PhD from the University of Illinois.

j•••@avalonbioventures.comreveal

Sanford J. Madigan· Managing Partner· San Diego County, California, United Statesin

Managing Partner and serial entrepreneur with 30 years in corporate financing, operations, and M&A. Co-founded Enlaza Therapeutics and was co-founder/CEO of Nerio Therapeutics and CEO of Calporta. Holds a PhD in Genetics from SUNY Stony Brook.

s•••@avalonbioventures.comreveal

Sergio G. Duron· Managing Partner· San Diego, California, United Statesin

Managing Partner and drug discovery scientist with over 20 years in biotechnology. Co-founded Enlaza Therapeutics (CEO), Nerio, Calporta, and Anexigen. Holds a PhD in organic chemistry from the University of Illinois at Urbana-Champaign.

s•••@avalonbioventures.comreveal

Tighe Reardon· Chief Financial Officer & Managing Partner

Reardon joined Avalon in 2014 and serves as CFO of the firm's Accelerator and its portfolio companies, with over 22 years of senior finance and tax experience. He previously held CFO roles at Synthorx, Sitari Pharmaceuticals, and Calporta, and senior tax and treasury positions at DJO Global and Relational Investors; he is a California CPA with degrees from San Diego State University.

t•••@avalon-ventures.comreveal

Abby Beers· FP&A Manager

Joined the Accelerator in 2014 as Financial Planning & Analysis Manager, supporting financial strategy across portfolio companies. Holds an MBA from Cornell and a B.S. in Biology from UC Santa Barbara.

Adrienne Terrazas· Executive Admin· San Diego, California, United Statesin

Joined the Accelerator in 2023 as Executive Assistant to the Partnership and senior executives across portfolio companies, with extensive legal and executive assistant experience in Southern California.

Bryce Suchomel· Advisor· San Diego, California, United Statesin

Joined the Accelerator in 2024 supporting portfolio companies with business development, strategy, and operations. Spent over 10 years in the biopharmaceutical industry. Holds an MBA from Duke and an M.Sc. from Northeastern.

Christy Sayers· Head of Human Resourcesin

Joined the Accelerator in 2012 as Head of Human Resources, leading HR strategy across portfolio companies. Holds a B.B.A. from the University of San Diego and a SHRM-CP credential.

Eben Massari· Advisor· San Diego, California, United Statesin

Joined the Accelerator in 2020 with 20+ years in small-molecule drug discovery. Serves as CSO of Cohesyx Bio and SVP of Biology at Protalys Therapeutics; previously SVP of Biology at Nerio. Holds a PhD in Biology from UC San Diego.

Fernando Camejo· Senior Accounting Manager

Joined the Accelerator in 2019 overseeing accounting operations, with prior accounting leadership roles at Becton Dickinson, Novartis, and AstraZeneca. Holds a B.S. in Accounting from CSU San Marcos.

Jason Roland· Advisor· San Diego, California, United Statesin

Joined the Accelerator in 2015 with 15+ years in medicinal chemistry and drug discovery. Serves as CSO of Protalys Therapeutics and VP of Chemistry at Cohesyx Bio; previously VP of Chemistry at Nerio. Holds a PhD in Chemistry from UC Irvine.

Jill Mooney· Advisor· San Diego, California, United Statesin

Joined the Accelerator in 2025 with 20 years in synthetic biology and cell and gene therapy. Serves as CSO of Tregsherpa and CDO of Korsa Therapeutics; previously SVP of R&D at ElevateBio and Head of R&D at Synthorx. Holds a PhD in Immunology from UT Southwestern.

Katie Klink· VP, Finance· San Diego, California, United Statesin

Joined the Accelerator in 2021 as VP of Finance overseeing financial strategy and operations. A California CPA with over a decade in private and public accounting focused on biotech. Holds a B.S. from UC San Diego.

Lauri Sutor· Accounts Payable Manager· San Diego, California, United Statesin

Joined the Accelerator in 2015 as Accounts Payable Manager overseeing day-to-day AP operations and vendor relationships, with prior roles at Cadence Pharmaceuticals, Sony Ericsson, and Intuit.

Manny Juarez· Facilities & Lab Manager· San Diego Metropolitan Areain

Joined the Accelerator in 2024 as Lab and Facilities Manager overseeing operations, procurement, EHS, and lab management, with a background in the biotech industry.

Megan Spaman· Administrative Assistant· San Diego Metropolitan Areain

Joined the Accelerator in January 2024 as Administrative Assistant providing operational support across portfolio companies. Holds a B.S. in Business Administration from San Diego State University.

Stephen Elmendorf· Fund Controller· San Marcos, California, United Statesin

Joined the Accelerator in 2015 as Fund Controller overseeing fund accounting and reporting, previously in accounting and IS roles at DJO. Holds a B.S. from USC and is a California CPA.

What they invest in

from 12 of 29 portfolio companies

Biotech ×10Healthtech ×5Deep Tech ×2Digital Health ×2Medical Devices ×2SaaS ×2Enterprise Software ×1HR Tech ×1

HQs:United States×12

Investments · 29 tracked

founders shown can be your intro path

By year:2025 · 2 2024 · 1 2021 · 1 2020 · 1 2016 · 38 dated

Janux TherapeuticsNASDAQ: JANX

Clinical-stage company developing tumor-activated immunotherapies using masking platform technology.

Corporate Websitevaloratherapeutics.comin✓ verified

Valora Therapeutics is a biotech company developing antibody-lectin chimera (AbLec) therapeutics that target cell-surface glycans for immuno-oncology and immunotherapy applications.

BiotechHealthtech

Miguel Garcia-Guzman(Co-Founder, CEO & Director)James Lee(VP, Business Development)Carolyn Bertozzi(Scientific Co-Founder)Jessica Stark(Scientific Co-Founder)

AristaMDaristamd.comin 𝕏Mar 2016SEC filingmedium confidence

AristaMD is a technology-enabled clinical services provider that connects primary care physicians with board-certified specialists through eConsults to improve access to specialty care and reduce costs.

Digital HealthEnterprise SoftwareHealthtechSaaSSan Diego, US

Keith Pinter(Chief Executive Officer)Julia Jezmir(President and Chief Medical Officer)Brooke LeVasseur(Executive Officer, Director)Craig Cimini(Director)

BoardJohn Kuelper(Director)Tighe Reardon(Executive Officer, Director)

Board seatJay B. Lichter· per SEC Form D · $1.4M raise · filed Mar 2016

Cellular ApproachesNov 2016SEC filingmedium confidence

BiotechLa Jolla, US

Jay Lichter(Director)Court Turner(Executive Officer, Director)

BoardTighe Reardon(Executive Officer, Director)

Board seatJay B. Lichter· per SEC Form D · $5.1M raise · filed Nov 2016

Cullinan MicaMay 2020SEC filinghigh confidence

BiotechLa Jolla, US

Morana Jovan-Embiricos(Director)Anthony Rosenberg(Director)Neil W. Gibson, Ph.D.(Executive Officer, Director)Owen Hughes(Director)

Board seatJay B. Lichter· per SEC Form D · $10M raise · filed Mar 2022

Enlaza Therapeuticsenlazatx.cominAug 2025

Enlaza Therapeutics develops covalent protein therapeutics using its War-Lock technology, which incorporates proprietary unnatural amino acids into protein drugs so they form irreversible covalent bonds with disease-related targets.

BiotechDeep TechSan Diego, US

Sergio Duron(Co-Founder & Chief Executive Officer)Sanford Madigan(Co-Founder, President & Chief Business Officer)Analeah Heidt(Chief Scientific Officer)

Board seatJay B. Lichter· per SEC Form D

Jnana TherapeuticsAug 2021acquired by Otsuka

Clinical-stage biotech using its RAPID chemoproteomics platform to drug challenging targets; acquired by Otsuka in 2024.

Boston, US

Board seatKevin J. Kinsella· per SEC Form D

SynthorxJul 2016acquired by Sanofi

Clinical-stage biotech expanding the genetic alphabet with synthetic nucleotides; acquired by Sanofi for $2.5B in 2020.

La Jolla, US

Board seatJay B. Lichter· per SEC Form D

Acquisition News Articlebiospace.comin 𝕏

BioSpace is a platform providing news, job listings, and recruitment marketing solutions for the life sciences industry.

BiotechHealthtechHR TechMarketing TechMedia & EntertainmentMedical DevicesSaaSDes Moines, US

Josh Goodwin(CEO)

Acquisition News Articlegenengnews.comin 𝕏

Actimisboehringer-ingelheim.comacquired by Boehringer Ingelheim

AeroRx TherapeuticsSep 2025

HealthtechLa Jolla, US

Ahmet Tutuncu, M.D., Ph.D.(Executive Officer, Director)

BoardTighe Reardon(Executive Officer)Heather Preston, M.D.(Director)Jay B. Lichter, Ph.D.(Director)Sanford Madigan, Ph.D.(Director)John Stuart Patton, Ph.D.(Director)

Aratana Therapeuticsacquired by Elanco Animal Health

Pet therapeutics company developing innovative treatments for dogs and cats; acquired by Elanco Animal Health in 2019.

Arialysarialysrx.comin 𝕏

Arialys Therapeutics develops precision medicines targeting pathogenic autoantibodies in the brain to treat neuropsychiatric disorders driven by autoimmune disease.

BiotechDigital HealthMedical DevicesLa Jolla, US

Peter Flynn, Ph.D.(Executive Officer, Director)

BoardJay Lichter, Ph.D.(Director)Brian Slingsby, M.D., Ph.D., M.P.H.(Director)Ed Hurwitz(Director)Ashish Xavier, Ph.D.(Director)Tighe Reardon(Executive Officer)

Calportaacquired by Merck

Developed selective small-molecule TRPML1 agonists for lysosomal storage diseases; acquired by Merck for up to $576M in 2019.

Calporta Therapeuticsacquired by Merck

Developed selective small-molecule TRPML1 agonists for lysosomal storage diseases; acquired by Merck for up to $576M in 2019.

Corporate Websitejanuxrx.comin 𝕏

Corporate Websiteaerorxtx.com

AeroRx is a clinical-stage biopharmaceutical company developing nebulized fixed-dose combination therapies (LABA/LAMA and triple LABA/LAMA/ICS) for moderate-to-severe COPD patients who are underserved by inhalers.

BiotechHealthtech

Ahmet Tutuncu(CEO and Co-founder)

Fortis Therapeuticsfortistx.com

Fund Ifibrogen.comin 𝕏

Janux

Clinical-stage company developing tumor-activated immunotherapies using platform masking technology.

Korsa Therapeutics

Developing therapeutic antibodies capable of entering cells and binding intracellular targets.

Nerio Therapeuticsacquired by Boehringer Ingelheim

Phosphatase-focused immunotherapy drug discovery company; acquired by Boehringer-Ingelheim for up to $1.3B in 2024.

BiotechLa Jolla, US

Stefan Heller(Director)Sanford J. Madigan, Ph.D.(Executive Officer, Director)Jay Lichter, Ph.D.(Director)

BoardTighe Reardon(Executive Officer, Director)

PDI Therapeuticsacquired by Cullinan Therapeutics

Developed a first-in-class monoclonal antibody for multiple cancers; acquired by Cullinan Therapeutics in 2022.

Protalys Therapeutics

Biotech addressing PROTAC delivery challenges using in situ carriers to deliver degraders to solid tumors.

RQx Pharmaceuticals

Clinical-stage company developing broad-spectrum antibiotics from natural product scaffolds; partnered with Genentech.

Sitari Pharmaceuticalsacquired by GSK

Developed treatments for celiac disease; founded by Avalon Ventures and GSK, acquired by GSK in 2019.

Valora TherapeuticsJul 2024

BiotechLa Jolla, US

Miguel Garcia-Guzman(Executive Officer, Director)

BoardStefan Heller(Director)Sanford Madigan(Director)

visit www.jnanatx.comjnanatx.comin 𝕏

Jnana Therapeutics operates a chemoproteomics-based drug discovery platform called RAPID to identify small molecule medicines targeting protein binding sites across multiple target classes.

BiotechDeep Tech

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Exits · 10

IPOs and acquisitions across the tracked portfolio

Janux TherapeuticsNASDAQ: JANXJnana Therapeuticsacq. by OtsukaSynthorxacq. by SanofiActimisacq. by Boehringer IngelheimAratana Therapeuticsacq. by Elanco Animal HealthCalportaacq. by MerckCalporta Therapeuticsacq. by MerckNerio Therapeuticsacq. by Boehringer IngelheimPDI Therapeuticsacq. by Cullinan TherapeuticsSitari Pharmaceuticalsacq. by GSK

Portfolio news

latest coverage across their companies

Arialys' precision therapy shows promise in rare encephalitis disorder and beyond

Arialys · fiercebiotech.com · Jun 20, 2025

Frequently asked questions

What stage does Avalon BioVentures invest at?: Avalon BioVentures invests at the Pre-Seed, Seed, Series A stages.
What sectors does Avalon BioVentures focus on?: Avalon BioVentures focuses on Biotech, Healthtech, Medical Devices.
Where is Avalon BioVentures located?: Avalon BioVentures is headquartered in San Diego, US.
Does Avalon BioVentures lead rounds?: Yes, Avalon BioVentures leads investment rounds.

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