Corporate venturing-backed US drugs company Avila Therapeutics has signed its second co-development deal after raising $30m in second-round funding in July.
US-based biopharmaceutical firm Clovis Oncology said it would pay up to $209m in initial and milestone payments to Avila for its lung cancer treatment.
Switzerland-based Novartis through its Option Fund joined the series B round for Avila in July and struck a $200m drug development option at that time. Venture capital firms Abingworth, Atlas Venture, Polaris Venture Partners and Advent Venture Partners were also part of the series B round.