Avalo Acquires Anti-IL-1β mAb, Announces Private Placement

 

• Avalo acquires Phase 2-ready anti-IL-1β mAb, AVTX-009, through acquisition of AlmataBio, Inc.
• Topline results from planned Phase 2 trial in hidradenitis suppurativa expected in 2026
• Executed private placement financing of up to $185 million, including initial upfront investment of $115.6 million; expected to extend cash runway into 2027
• Webcast to be held tomorrow, March 28, 2024 at 8:30 a.m. E.T.

Avalo will host a webcast presentation to discuss the acquisition tomorrow, March 28, 2024, at 8:30 a.m. ET. Listeners can register for the webcast via this link. A copy of the slides being presented will be available via Avalo’s website. Those who plan on participating are advised to join 15 minutes prior to the start time. A replay of the webcast will also be available via under the “News/Events” page in the Investors section of the Avalo’s website approximately two hours after the call’s conclusion.

https://www.globenewswire.com/news-release/2024/03/27/2853595/0/en/Avalo-Acquires-Anti-IL-1%CE%B2-mAb-and-Announces-Private-Placement-Financing-of-up-to-185-Million.html