Avelas Biosciences Gains $7.65M For Tumor Visualization

San Diego-based Avelas Biosciences has raised $7.65M in a Series A funding round, which it says will go towards clinical studies for its technology for real-time tumor visualization. The funding came from Avalon Ventures. Avelas is developing technology for visualizing cancerous lymph nodes in breast cancer patients. The firm's technology is based on technology developed by Nobel Prize winner Roger Tsien, Ph.D. The firm's CEO is currently Jay Lichter, who is also a Managing Director at Avalon Ventures. More information »