Alaunos Buys Velaris, Raises $350M for Pulmonary Hypertension Pipeline
Alaunos Therapeutics has closed its purchase of Velaris Therapeutics, a private company developing treatments for pulmonary arterial hypertension and related cardiopulmonary conditions. A concurrent private placement brought in roughly $350 million, which the company expects to support operations into 2029. The acquired pipeline includes ActRII-Fc ligand traps and an anti-PDGF-B antibody, with proof-of-concept data for lead candidate VLR199 anticipated in 2028.
Alaunos Therapeutics has completed its acquisition of privately held Velaris Therapeutics, adding programs aimed at pulmonary arterial hypertension and related cardiopulmonary conditions. Velaris is the ninth company formed around assets discovered by Paragon.
The financing, an oversubscribed private placement of Series C non-voting convertible preferred stock, raised about $350 million. Alaunos expects this to fund operations into 2029, supporting proof-of-concept data for VLR199 in 2028 and VLR360, plus early regulatory work for VLR247 and VLR258. The pipeline includes ActRII-Fc ligand traps and an anti-PDGF-B antibody.
If these therapies advance, people with PAH and related cardiopulmonary conditions could gain additional treatment options, particularly where current approaches are limited. The funding may allow longer-term clinical testing, but success is uncertain and depends on trial results. Investors and patients may see impact, while broader access and affordability questions could emerge if products reach market.