Pharmaceutical firm GlaxoSmithKline (GSK) has agreed to acquire US-based Sitari Pharmaceuticals, a celiac disease treatment developer it had co-founded with venture capital firm Avalon Ventures, for an undisclosed sum.
Sitari was formed in 2013 under a partnership struck by GSK and Avalon Ventures that year, with each founding shareholder also supplying $10m of series A funding for the startup, which was incubated by Avalon’s COI Pharmaceuticals unit.
The company is conducting preclinical work on transglutaminase 2 inhibitors that would suppress autoimmune responses responsible for celiac disease, a digestive disorder that causes intestinal inflammation and direct cell damage.
Jay Lichter, Sitari’s CEO, said: “Our collaboration with GSK has been overwhelmingly positive as we were able to rapidly launch a series of new companies based on promising scientific research, and we successfully advanced five programs into preclinical studies for a variety of unmet medical needs.
“Sitari’s preclinical program has the potential to become a medicine to help millions of patients with celiac disease, and we are excited that GSK, a leader in developing innovative medicines, will be advancing the program.”