Rallybio Corporation and Avenzo Therapeutics Announce Merger Agreement to Advance Next-Generation Oncology Therapies and $215 Million Concurrent Private Placement

NEW HAVEN, Conn. & SAN DIEGO, Calif.--(BUSINESS WIRE)--Rallybio Corporation (Nasdaq: RLYB) ("Rallybio") and Avenzo Therapeutics, Inc. ("Avenzo"), a clinical-stage biotechnology company developing next-generation oncology therapies, today announced that they have entered into a definitive agreement pursuant to which Rallybio will acquire Avenzo through a merger transaction (the "Merger"). Upon completion of the Merger, the combined company is expected to operate under the name Avenzo Therapeutic.