Avelas Biosciences is a technology company.
Avelas Biosciences has raised $35.0M across 3 funding rounds.
Avelas Biosciences has raised $35.0M in total across 3 funding rounds.
Avelas Biosciences has raised $35.0M in total across 3 funding rounds.
Avelas Biosciences's investors include Avalon Ventures.
Avelas Biosciences is a clinical-stage biotechnology company developing pegloprastide (AVB-620), a novel drug-device combination product designed to enable real-time detection of cancer tissue during surgery, particularly for breast cancer.[1][2][3] The product targets oncologic surgeons by providing fluorescence-image guided surgery (FIGS), illuminating cancerous margins to improve surgical precision, reduce reoperations, and enhance patient outcomes in cancer procedures.[1][2] It serves patients with breast cancer and potentially other solid tumors, addressing the critical problem of incomplete tumor resection during surgery, where undetected margins lead to recurrence risks.[1][2][3] As of recent updates, Avelas has advanced AVB-620 into Phase 2 trials, initiated dosing in 2018, and received FDA Breakthrough Therapy designation, signaling strong growth momentum toward regulatory approval.[1][4]
Avelas Biosciences emerged from groundbreaking technology invented by Roger Y. Tsien, Ph.D., the 2008 Nobel Laureate in Chemistry, specifically his activatable cell-penetrating peptide (ACPP) platform that activates in response to cancer-specific enzymes.[1][2] Founded in La Jolla, California, the company leveraged this Nobel-inspired innovation to create proprietary versions of the Avelas Cancer Illuminator™ (ACI) optimized for human use, paired with a companion imaging system.[2] Early leadership included Carmine J. Mancini, Ph.D., who served as President and CEO while at Avalon Ventures, driving initial development and clinical progression.[4] Pivotal moments include dosing the first patient in Period 2 of the Phase 2 breast cancer study in 2018 and securing Breakthrough Therapy designation from the FDA, underscoring rapid traction in oncology.[1][4]
Avelas rides the wave of precision oncology and intraoperative imaging, where advancements in fluorescence-guided surgery address longstanding challenges in tumor margin detection amid rising cancer surgery volumes.[1][2] Timing is ideal as minimally invasive techniques and real-time diagnostics gain traction, fueled by market forces like aging populations, increasing breast cancer incidence, and demand for outcome-improving tools that cut healthcare costs from reoperations.[2][3] By pioneering FIGS with ACPP technology, Avelas influences the ecosystem, potentially setting a benchmark for surgical oncology innovations and enabling companion diagnostics from device partners.[2]
Avelas is poised to complete Phase 2 data readouts and advance toward Phase 3 trials or pivotal studies for AVB-620, with Breakthrough designation fast-tracking potential approval as a breast cancer surgery standard.[1][4] Trends like AI-enhanced imaging and multi-omics integration could amplify its platform's reach to other solid tumors, while partnerships for commercialization will shape scalability.[2][3] Its influence may evolve from niche innovator to ecosystem leader, transforming cancer surgery outcomes and validating Nobel tech in clinic—echoing its origins in Tsien's luminous legacy.[1][2]
Avelas Biosciences has raised $35.0M across 3 funding rounds. Most recently, it raised $20.0M Series C in August 2016.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Aug 1, 2016 | $20.0M Series C | Avalon Ventures | |
| Jan 1, 2014 | $7.0M Series B | Avalon Ventures | |
| Dec 1, 2012 | $8.0M Series A | Avalon Ventures |