Rallybio, Avenzo announce $215 million private placement financing

Rallybio

Rallybio

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  • Rallybio agreed to acquire Avenzo in a merger expected to close in Q4 2026.
  • Avenzo signed subscription agreements for an oversubscribed USD 215 million concurrent private placement tied to the transaction.
  • Pro forma cash at close expected to fund operations into late 2028, supporting multiple clinical milestones across four oncology programs.
  • Rallybio plans to distribute substantially all pre-closing net cash to existing holders; legacy holders expected to own about 2.8% post-close.
  • Combined company expected to operate as Avenzo Therapeutics, trading on Nasdaq under AVZO.


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