Avalon Ventures and GlaxoSmithKline have announced the launch of two early stage life-science firms through a $495 million collaboration that will fund up to 10 new companies. Silarus Therapeutics will develop therapeutics for the treatment of iron deficiency and iron overload disorders, targeting a hormone that regulates iron levels in the blood. Thyritope Biosciences will develop thyroid-stimulating auto-antibody treatments for autoimmune disorders of the thyroid. Both companies will receive up to $10 million in Series A funding along with executive leadership and operational management from Avalon. GSK will have the option to acquire the companies upon the identification of a clinical candidate.