Velaris Therapeutics

Velaris Therapeutics is a biotechnology company focused on developing potentially transformative therapies for pulmonary arterial hypertension (PAH) and related cardiopulmonary diseases. Spun out of Paragon Labs, the company's pipeline is built around ActRII-Fc ligand traps and complementary biologics designed to address growth signaling imbalances that drive pulmonary vascular remodeling. Its lead program, VLR199, is an ActRIIA-Fc ligand trap designed to improve upon existing activin-signaling inhibitors. The pipeline also includes VLR247 and VLR258, which are engineered to spare BMP-9 and BMP-10 to lower the risk of hematologic adverse events, as well as VLR360, an anti-PDGF-B monoclonal antibody. In October 2026, Velaris was acquired by Alaunos Therapeutics in a transaction that concurrently raised $350 million to advance its cardiopulmonary pipeline.