Avalo Therapeutics, Inc. Announces Corporate Name Change from Cerecor Inc.
August 26 2021 - 7:30AM
Avalo Therapeutics, Inc. (Nasdaq: AVTX), a leading clinical-stage
precision medicine company that discovers, develops, and
commercializes targeted therapeutics for patients with significant
unmet clinical need in immunology, immuno-oncology, and rare
genetic diseases announced today that it has launched its new
corporate name Avalo Therapeutics, Inc. This new name reflects the
Company’s dedication to helping address the significant unmet
medical need for patients, as well as to align with the forward
momentum of its large and promising pipeline of potential
first-in-class therapeutic candidates. In conjunction with the
corporate name change, the Company will trade on the Nasdaq Capital
Market under the new ticker symbol "AVTX". The new ticker will
become effective at the open of the market on August 26, 2021. In
addition, the Company will launch a new website address:
www.avalotherapeutics.com.
“The rebranding from Cerecor to Avalo
Therapeutics comes at a defining moment in our Company's history
and better reflects who we are today with our increased focus on
immunology, immuno-oncology, and rare genetic diseases," said
Michael F. Cola, President and Chief Executive Officer of Avalo
Therapeutics. "We are excited to continue the advancement of our
programs, including our recent expansion of AVTX-002, a promising
first-in-class monoclonal antibody, into moderate-to-severe
ulcerative colitis refractory to anti-TNF alpha therapies. As we
enter this exciting period of our corporate journey, we look
forward to the numerous data readouts in the second half the
2021.”
Avalo Therapeutics Pipeline
The Company’s current pipeline consists of six
product candidates advancing in development with eight ongoing
clinical programs.
-
AVTX-002: Anti-LIGHT mAb targeting
immune-inflammatory diseases including acute respiratory distress
syndrome (ARDS) and moderate-to-severe inflammatory bowel disease
(Crohn’s disease and ulcerative colitis)
-
AVTX-007: Anti-IL-18 mAb targeting immuno-oncology
and immune-inflammatory diseases including multiple myeloma and
Still’s disease
-
AVTX-006: A dual mTORc1/c2 inhibitor targeting
complex lymphatic malformations. This product candidate currently
has Orphan Drug and Rare Pediatric Disease Designation and is
eligible for a Priority Review Voucher upon approval by the U.S.
Food and Drug Administration (FDA).
- AVTX
800 programs (AVTX-801, AVTX-802, and AVTX-803):
Therapeutic doses of monosaccharide therapies for congenital
disorders of glycosylation (CDGs). Each product candidate has
Orphan Drug, Fast Track and Rare Pediatric Disease Designations and
is eligible for a Priority Review Voucher upon approval by the U.S.
FDA.
About Avalo Therapeutics
Avalo Therapeutics is a leading clinical-stage
precision medicine company that discovers, develops, and
commercializes targeted therapeutics for patients with significant
unmet clinical need in immunology, immuno-oncology, and rare
genetic diseases. The company has built a diverse portfolio of
innovative therapies to deliver meaningful medical impact for
patients in urgent need. The company’s clinical candidates commonly
have a proven mechanistic rationale, biomarkers and/or an
established proof-of-concept to expedite and increase the
probability of success.
For more information about Avalo Therapeutics,
please visit www.avalotherapeutics.com
Forward-Looking Statements
This press release may include forward-looking
statements made pursuant to the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are statements that
are not historical facts. Such forward-looking statements are
subject to significant risks and uncertainties that are subject to
change based on various factors (many of which are beyond Avalo
Therapeutics’ control), which could cause actual results to differ
from the forward-looking statements. Such statements may include,
without limitation, statements with respect to Avalo’s plans,
objectives, projections, expectations and intentions and other
statements identified by words such as “projects,” “may,” “might,”
“will,” “could,” “would,” “should,” “continue,” “seeks,” “aims,”
“predicts,” “believes,” “expects,” “anticipates,” “estimates,”
“intends,” “plans,” “potential,” or similar expressions (including
their use in the negative), or by discussions of future matters
such as: the development of product candidates or products; timing
and success of trial results and regulatory review; potential
attributes and benefits of product candidates; and other statements
that are not historical. These statements are based upon the
current beliefs and expectations of Avalo’s management but are
subject to significant risks and uncertainties, including: drug
development costs, timing and other risks, including reliance on
investigators and enrollment of patients in clinical trials, which
might be slowed by the COVID-19 pandemic; regulatory risks; Avalo's
cash position and the potential need for it to raise additional
capital; general economic and market risks and uncertainties,
including those caused by the COVID-19 pandemic; and those other
risks detailed in Avalo’s filings with the Securities and Exchange
Commission. Actual results may differ from those set forth in the
forward-looking statements. Except as required by applicable law,
Avalo expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in Avalo’s expectations with
respect thereto or any change in events, conditions or
circumstances on which any statement is based.
For investor inquiries
Chris Brinzey Westwicke, an ICR Company
chris.brinzey@westwicke.com 339-970-2843
or
Schond L. Greenway Investor Relations Chief
Financial Officer Avalo Therapeutics, Inc.sgreenway@avalotx.com
610-522-6200
For media inquiries
Robert Stanislaro or Helen O’Gorman FTI
Consultingrobert.stanislaro@fticonsulting.comhelen.o’gorman@fticonsulting.com
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