Alaunos Therapeutics Acquires Velaris, Secures $350 Million Financing
Alaunos Therapeutics, Inc. (TCRT) completed the acquisition of Velaris Therapeutics alongside an oversubscribed $350 million private placement financing. Following the transaction, the company will have approximately 358.59 million common shares outstanding, while its board of directors is set to shift to control under Fairmount. Following the news, shares of Alaunos Therapeutics jumped 66.69% to $1.75.
The transaction shifts the corporate strategy toward cardiopulmonary assets, adding pipeline programs in pulmonary arterial hypertension and pulmonary hypertension. The $350 million capital raise extends cash runway expected into 2029, substantially easing near-term funding concerns as the business pivots.
Key upcoming events include shareholder votes to approve the preferred share conversion and board changes, as well as initiating clinical trials. Clinical proof-of-concept data for VLR199 is expected in 2028.
Key points
- Alaunos Therapeutics acquired Velaris Therapeutics and raised $350 million in an oversubscribed private placement.
- The capital raise is expected to extend the company's operating runway into 2029.
- Clinical proof-of-concept data for asset VLR199 is expected in 2028.
- Total common shares will reach approximately 358.59 million following the deal.
- Board control will shift to Fairmount subject to shareholder approval.
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How we writeDisclaimerQuestions and answers
Why did Alaunos Therapeutics acquire Velaris Therapeutics?
Alaunos Therapeutics acquired Velaris Therapeutics to reset its strategy by adding cardiopulmonary pipeline assets focused on pulmonary arterial hypertension and pulmonary hypertension.
How much money did Alaunos Therapeutics raise in its private placement?
Alaunos Therapeutics raised $350 million through an oversubscribed private placement, extending its projected cash runway into 2029.
When is clinical proof-of-concept data expected for VLR199?
Clinical proof-of-concept data for VLR199 is expected in 2028.