Alaunos Therapeutics completes Velaris acquisition and raises $350 million private placement
On Oct 13 2026 Alaunos Therapeutics finalized a stock‑for‑stock merger with Velaris Therapeutics and simultaneously closed a private placement that generated approximately $350 million in gross proceeds. The financing gives Alaunos a financial runway into 2029 and is intended to fund clinical proof‑of‑concept data for Velaris’s lead program VLR199 in 2028. Peter Harwin, the founding partner of Fairmount, will join Alaunos’s board and, after a planned stockholder vote, the conversion of the preferred shares will increase the company’s common share count to about 358.59 million.
Why it matters
The company says the $350 million infusion will support operations through 2029 and enable key data readouts in 2028, which could de‑risk its cardiopulmonary pipeline (the company’s statement). The conversion of the preferred stock into common shares will dilute existing shareholders to roughly 358.59 million shares (the filing).
Key facts
- 1The acquisition of Velaris was signed and became effective on Oct 13 2026 (). tradingview.com
- 2Alaunos raised approximately $350 million in gross proceeds from a concurrent private placement of Series C non‑voting convertible preferred stock (). stocktitan.net
- 3The financing is expected to give the company a financial runway into 2029 (). stocktitan.net
- 4Clinical proof‑of‑concept data for the lead program VLR199 are expected in 2028 (). stocktitan.net
- 5Peter Harwin, Founding Partner of Fairmount, will join Alaunos’s Board of Directors (). stocktitan.net
- 6After conversion of the preferred stock, the total number of Alaunos common shares will be approximately 358.59 million on an as‑converted basis (). investing.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.