Alaunos Therapeutics completes Velaris acquisition and raises $350 million private placement
Alaunos Therapeutics announced the completion of a stock‑for‑stock merger with Velaris Therapeutics on Oct 13 2026. The deal was funded by an oversubscribed private placement of Series C non‑voting convertible preferred stock that generated gross proceeds of approximately $350 million. The financing gives Alaunos a financial runway into 2029 and is expected to support proof‑of‑concept data for Velaris’s lead program VLR199 in 2028. Peter Harwin, a founding partner of Fairmount, will join Alaunos’s board and the conversion of the preferred shares will increase the total common‑share count to about 358.59 million.
Why it matters
The $350 million infusion extends Alaunos’s cash runway to 2029, allowing it to fund multiple clinical milestones, including VLR199 proof‑of‑concept in 2028 (the company says). The board change and share conversion dilute existing shareholders but bring new strategic investors on board, which may affect governance and future financing.
Key facts
- 1Alaunos completed the acquisition of Velaris in a stock‑for‑stock merger on Oct 13 2026. tradingview.com
- 2The concurrent private placement of Series C non‑voting convertible preferred stock raised gross proceeds of approximately $350 million. stocktitan.net
- 3The financing provides a financial runway into 2029 to support multiple data milestones. stocktitan.net
- 4Proof‑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 following the transaction. stocktitan.net
- 6After conversion of the preferred shares, the total number of Alaunos common shares will be approximately 358.59 million. stocktitan.net
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.