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Unusual Approach In putting together this blockbuster startup, Avalon broke with biotech custom, which requires increments of cash to be meted out as sure developmental milestones are achieved. Bock says that after transferring over to the business world, he labored for a conventional venture capital firm, but he was happy to make a move to Avalon, which is aggressively proactive in its endeavors to conceive of and launch corporations. "This is in contrast to the standard enterprise capital firm that passively responds to reams of ill-conceived concepts in the hope that a good one will move over their desk," he says. Avalon, which has began seven biotech companies, similar to Athena Neurosciences Inc., based mostly in San Carlos, Calif., claims that it has never shaped an organization that failed—that all have advanced to the stage of going public.
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