DENVER, Colo. (247marketnews.com) -- Alaunos Therapeutics (NASDAQ:TCRT) completed its acquisition of Velaris Therapeutics and secured approximately $350 million in gross private-placement proceeds, setting up an aggressive push into pulmonary arterial hypertension (PAH) with a clinical pipeline targeting multiple disease-driving pathways.

The deal marks a dramatic strategic shift for Alaunos, which says the financing should support operations into 2029 and fund several important development milestones. The headline catalyst is VLR199, an investigational ActRIIA-Fc ligand trap designed to build on the pharmacology of an approved activin-signaling inhibitor for PAH, with proof-of-concept data expected in 2028.

Velaris is also developing VLR247 and VLR258, two ligand traps engineered to spare BMP-9 and BMP-10, as well as VLR360, an antibody targeting PDGF-B, a complementary pathway implicated in pulmonary vascular remodeling. The company aims to develop these candidates individually or in combination, potentially expanding its reach into secondary pulmonary hypertension associated with conditions including heart failure with preserved ejection fraction and interstitial lung disease.

“We aim to transform the treatment of pulmonary hypertension, starting with PAH,” said Michael Henderson, MD, Velaris president. His ambition reflects a substantial unmet medical need, but the pipeline remains investigational, and clinical success has yet to be established.

The financing brings heavyweight investors into the transaction, including Fairmount, Venrock Healthcare Capital Partners, T. Rowe Price-advised accounts, Wellington Management, Janus Henderson Investors, BB Biotech and Perceptive Advisors. Fairmount founding partner Peter Harwin will join Alaunos’ board. Subject to the planned stockholder approval of preferred-stock conversion, Fairmount-designated directors are expected to hold four of five board seats, giving the investor group significant influence over the company’s direction.

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