Avalo acquires AVTX-009 anti-IL-1β mAb, closes $115.6M private placement; 2023 net loss $31.5M

Avalo Therapeutics, Inc.

Acquired AVTX-009 (anti-IL-1β mAb) via acquisition of AlmataBio for $15M in stock plus $7.5M at close; milestones up to $20M.
Closed private placement for up to $185M, initial $115.6M upfront; cash runway into 2027.
2023 net loss $31.5M ($114 per share); cash $7.4M at Dec 31, 2023.
Plans Phase 2 trial in hidradenitis suppurativa; topline data expected in 2026.
Warrants issued at $5.80 per share; as-converted shares ~23.4M after transactions.

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