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Avalo Therapeutics, Inc. (Nasdaq: AVTX) is a clinical-stage biotechnology company dedicated to addressing immune dysregulation through innovative therapeutics. Headquartered in Wayne, Pennsylvania, and Rockville, Maryland, Avalo Therapeutics focuses on developing treatments for a range of inflammatory diseases.
The company's lead therapeutic candidate is AVTX-009, an anti-IL-1B monoclonal antibody (mAb) aimed at combating inflammatory diseases. Additionally, Avalo's robust pipeline features promising drugs such as quisovalimab (AVTX-002)—an anti-LIGHT mAb—and AVTX-008, a BTLA agonist fusion protein.
Recently, Avalo achieved a significant milestone by eliminating a $35 million debt to Horizon Technology Finance Corporation, showcasing its commitment to financial stability and future growth. With this strengthened balance sheet, the company is poised to advance its leading drug candidates and explore new opportunities in the biotech sector.
Under the leadership of Dr. Garry A. Neil, MD, Avalo’s team brings decades of experience in drug development. Dr. Neil's notable past roles include Group President of Pharmaceutical R&D at Johnson & Johnson and Chairman of Arena Pharmaceuticals, which was acquired by Pfizer for $6.7 billion in 2022. This experienced team is dedicated to bringing innovative treatments to market and improving patients' lives.
Latest News: In September 2023, Avalo announced the full repayment of its $35 million debt to Horizon Technology Finance Corporation ahead of schedule. This accomplishment highlights the company’s financial discipline and readiness to focus on advancing its core immunology assets, including AVTX-002 and AVTX-008, which target the LIGHT-signaling network and BTLA pathway, respectively.
About AVTX-009: AVTX-009 is designed to target IL-1B, an inflammatory cytokine implicated in various diseases. By inhibiting IL-1B, AVTX-009 aims to reduce inflammation and treat conditions like rheumatoid arthritis and other chronic inflammatory diseases.
About quisovalimab (AVTX-002): Quisovalimab is unique in targeting the LIGHT-signaling network, which plays a pivotal role in immune response. By moderating LIGHT levels, AVTX-002 has shown promise in treating acute and chronic inflammatory conditions, including Crohn's Disease and COVID-19 induced acute respiratory distress syndrome.
About AVTX-008: This drug candidate is a fully human BTLA agonist fusion protein, targeting the BTLA pathway to regulate immune responses. It's in the IND-enabling stage and represents a potential best-in-class therapy for immune-mediated diseases.
Avalo Therapeutics continues to leverage its strategic partnerships and scientific expertise to drive its pipeline forward, aiming to deliver groundbreaking treatments and address unmet medical needs in immune dysregulation.
Avalo Therapeutics, a clinical-stage precision medicine company (Nasdaq: AVTX), announced participation at the 2022 BIO CEO and Investor Conference, taking place in New York City from February 14-15 and virtually until February 17, 2022. The senior management team will present and hold 1x1 meetings, with a pre-recorded presentation available from February 11, 2022, for registered attendees. Avalo focuses on developing targeted therapeutics for unmet clinical needs in immunology and rare genetic diseases, aiming to enhance patient outcomes through innovative therapies.
Avalo Therapeutics announced the appointment of Stephen Smolinski as Chief Commercial Officer effective January 3, 2022. He brings over 25 years of experience in commercial strategy development, having previously held senior roles at various biotechnology firms. Smolinski aims to enhance Avalo’s commercial capabilities and business development activities, particularly for the AVTX-002 therapy. As part of the hiring, he received a stock option for 400,000 shares of common stock, vesting over four years. This strategy is aligned with Avalo's focus on targeted therapeutics.
Avalo Therapeutics (AVTX) reported a positive update on its clinical programs, emphasizing the success of AVTX-002 in treating Crohn’s disease, where 50% of participants showed mucosal healing. The company plans to expand AVTX-002 for non-eosinophilic asthma, with Phase 2 trial results expected in late 2022. Additionally, while AVTX-007 was safe in multiple myeloma trials, it showed no efficacy and will focus on Adult Onset Still’s Disease moving forward. Avalo's rare disease programs are also progressing, with multiple trials scheduled for 2022.
Avalo Therapeutics (Nasdaq: AVTX) will hold a virtual Investor Day on January 6, 2022, from 8:00 a.m. to 10:00 a.m. ET. The event will feature presentations from key executives including CEO Michael Cola and CMO H. Jeffrey Wilkins, providing updates on their clinical pipeline. Key discussion points will include:
- Phase 1b study of AVTX-002 for Crohn’s disease, and plans for ulcerative colitis.
- Development updates for AVTX-007 targeting multiple myeloma.
- Progress on AVTX-803 for leukocyte adhesion deficiency type II.
- Overview of other pipeline programs and 2022 goals.
Avalo Therapeutics, Inc. (Nasdaq: AVTX) has appointed Dr. June Almenoff and Mitchell Chan as independent board members, effective November 10 and December 1, 2021, respectively. They replace Dr. Suzanne Bruhn and Philip Gutry. Dr. Almenoff brings nearly 25 years of biopharma leadership experience, while Mr. Chan has over 15 years of finance expertise in life sciences. CEO Mike Cola expressed confidence that their combined experience will support the company's strategic priorities for the upcoming year.
Avalo Therapeutics (Nasdaq: AVTX), a clinical-stage precision medicine company, announced that its senior management will present at two key healthcare conferences. The Stifel 2021 Virtual Healthcare Conference is set for November 17, 2021, at 4:00 PM ET, while the Jefferies 2021 London Healthcare Conference will take place from November 16-18, 2021, with a pre-recorded presentation available on November 18, 2021, at 8:00 AM GMT. Webcasts can be accessed through the company’s website.
Avalo Therapeutics, Inc. (Nasdaq: AVTX) announced its financial results for Q3 2021, reporting cash and cash equivalents of $71.5 million. Following a successful public offering raising $31.5 million, Avalo continues to focus on pipeline development, with key data readouts anticipated in the coming months for multiple programs, notably AVTX-002 for Crohn's disease, expected in Q4 2021. The company also completed significant financing to support its operations and expansion into new therapeutic areas, including immuno-oncology and rare genetic diseases.
Avalo Therapeutics, Inc. (Nasdaq: AVTX) announced that its senior management team will present at the Jefferies Next Generation IBD Therapeutics Summit on October 19, 2021. A pre-recorded webcast of the presentation will be available starting at 8:00 AM ET on the same day, accessible via the Investor section of the company's website. Avalo focuses on developing targeted therapeutics for unmet clinical needs in immunology, immuno-oncology, and rare genetic diseases, aiming to deliver impactful medical solutions.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported strong performance for Q3 2021, achieving a record $141 million in loan originations, with $99 million attributed to HRZN. The portfolio ended with a committed backlog of $123 million, reflecting robust demand for venture loans. During the quarter, HRZN received $50 million in loan prepayments, boosting fee and interest income. The company closed new loan commitments totaling $91 million, with a significant pipeline of opportunities, suggesting ongoing growth potential for shareholders.
Avalo Therapeutics, Inc. (Nasdaq: AVTX) announced that its senior management will present in a fireside chat at the 2021 Cantor Virtual Global Healthcare Conference, scheduled for September 29, 2021, at 2:00 PM ET. This engaging session will provide insights into the company's precision medicine initiatives targeting unmet clinical needs in immunology and rare diseases. A live webcast will be available on the company's website under the 'News/Events' section.
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