Alaunos Therapeutics Acquires Velaris Therapeutics and Raises $350M to Advance Pulmonary Hypertension Pipeline

Fort Lauderdale, FL, October 13, 2026 (Alaunos) -- Alaunos Therapeutics, Inc. (NASDAQ: TCRT) has completed its acquisition of Velaris Therapeutics, Inc., a privately held biotechnology company developing therapies for pulmonary arterial hypertension (PAH) and related cardiopulmonary diseases. The acquisition adds a pipeline of biologic drug candidates, including ActRII-Fc ligand traps and an anti-PDGF-B antibody, designed to target signaling imbalances that contribute to pulmonary vascular remodeling. Concurrently, Alaunos secured approximately $350 million in gross proceeds through an oversubscribed private placement of Series C non-voting convertible preferred stock led by Fairmount, with participation from several institutional investors. The financing is expected to fund operations into 2029, supporting clinical proof-of-concept studies for VLR199 and VLR360, as well as initial regulatory filings for VLR247 and VLR258. The company expects initial proof-of-concept data for VLR199 in 2028.

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