AlloVir and Kalaris Therapeutics Announce Merger
Summary
AlloVir (Nasdaq: ALVR), a Waltham, MA-based allogeneic T cell immunotherapy company, entered into a definitive merger agreement to combine with Kalaris Therapeutics, a Palo Alto, CA-based clinical-stage biopharmaceutical company. Upon completion of the Merger, pre-Merger AlloVir stockholders are expected to own approximately 25.05% of the combined company and pre-Merger Kalaris stockholders are expected to own approximately 74.95% of the combined company, subject to certain adjustments described in the merger agreement. Led by CEO Andrew Oxtoby, Kalaris is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of treatments for prevalent retinal diseases, founded by Samsara BioCapital and focused on development of TH103, a novel, differentiated anti-VEGF investigational therapy. Developed by Dr. Napoleone Ferrara, TH103 is a fully humanized, recombinant fusion protein currently being evaluated in an ongoing, Phase 1 clinical trial for the treatment of nAMD, with plans to develop TH103 for other neovascular and exudative diseases of the retina. Led by CEO Diana Brainard, AlloVir is an allogeneic T cell immunotherapy company that was focused on restoring natural immunity against life-threatening viral diseases in pediatric and adult patients with weakened immune systems.