Alaunos Therapeutics Announces Acquisition of Velaris Therapeutics
Key Highlights
- ➤$350 million private placement funds Alaunos operations into 2029
- ➤Alaunos completes Velaris acquisition, adding pulmonary hypertension drug pipeline
- ➤VLR199 proof-of-concept data expected in 2028
- ➤Approximately 358.59 million common shares expected on an as-converted basis
- ➤Fairmount designees expected to control four of five board seats after approval
Expert Statements
Michael Henderson, MD and President of Velaris
“We aim to transform the treatment of pulmonary hypertension, starting with PAH.”
Michael Henderson, MD and President of Velaris
“PAH and secondary pulmonary hypertension, including PH due to heart failure with preserved ejection fraction (PH-HFpEF) and interstitial lung disease (PH-ILD), significantly affect the lives of hundreds of thousands living with these conditions in the United States and even more globally.”
Michael Henderson, MD and President of Velaris
“With these indications sharing the imbalanced growth signaling that drives PAH and mounting evidence demonstrating that effective PAH therapies also have utility in secondary PH, we believe the time is right for Velaris.”
Michael Henderson, MD and President of Velaris
“We’ve built a capital-efficient plan to rapidly achieve proof-of-concept in PAH and demonstrate value.”
Michael Henderson, MD and President of Velaris
“With a pipeline built to provide optionality around ligand traps, to address complementary signaling pathways, and to offer compelling follow-on opportunities beyond PAH, we are excited for this next chapter.”
Holger Weis, CEO and Chairman of the Board of Directors of Alaunos
“Since our founding, Alaunos has been committed to advancing innovative therapies designed to improve outcomes for patients,”
Holger Weis, CEO and Chairman of the Board of Directors of Alaunos
“We are pleased to announce the acquisition of Velaris.”
Holger Weis, CEO and Chairman of the Board of Directors of Alaunos
“We believe this transaction and the concurrent private placement provide a strong financial foundation for us to advance an exciting pipeline and offer our stockholders a compelling opportunity to realize value, with proof-of-concept data for VLR199 expected in 2028.”
Acquisition of Velaris and concurrent oversubscribed $350 million private placement positions the Company to deliver multiple proof-of-concept datasets in pulmonary arterial hypertension
Velaris Therapeutics, the ninth company launched based on Paragon-discovered assets, is advancing a pipeline built to address growth signaling imbalances that drive pulmonary vascular remodeling in PAH and secondary pulmonary hypertension (PH), including PH due to heart failure with preserved ejection fraction
Get started
Create a free account to read the full story.