Avalo Therapeutics acquires Phase 2-ready anti-IL-1β mAb AVTX-009 from AlmataBio and raises $185M in financing.

Avalo Therapeutics acquires Phase 2-ready anti-IL-1β mAb, AVTX-009, from privately held AlmataBio, and announces a private placement financing of up to $185 million. The private placement financing includes an initial upfront investment of $115.6 million and extends Avalo's cash runway into 2027. Topline results from the planned Phase 2 trial in hidradenitis suppurativa are expected in 2026.

March 27, 2024
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