Rallybio Corporation to Acquire Avenzo Therapeutics, Securing $215 Million for Oncology Development

Rallybio Corporation has announced an agreement to acquire clinical-stage biotechnology company Avenzo Therapeutics through a merger. The combined entity is expected to operate as Avenzo Therapeutics and will focus on advancing oncology therapies. Concurrently, a syndicate of investors has committed $215 million in private placement financing to support these development efforts.