Kalaris Therapeutics Inc. has completed its previously reported merger with Allovir Inc., the company announced in a press release. The combined entity will operate under the name Kalaris Therapeutics, Inc, with cash and cash equivalents of approximately $100 million as of the closing date. Kalaris says this is expected to be sufficient to fund its operating expenses and capital expenditure requirements into the fourth quarter of 2026.

The company is currently developing TH103, a novel, differentiated anti-vascular endothelial growth factor (VEGF) agent engineered to potentially provide longer-lasting and increased anti-VEGF activity to treat neovascular and exudative diseases of the retina. TH103 was specifically engineered to address the limitations of current neovascular age-related macular degeneration (nAMD) therapies; Kalaris says it has demonstrated both potent anti-VEGF activity and sustained ocular residence time in preclinical studies. Kalaris is currently enrolling nAMD patients in a phase 1 clinical trial and expects to report initial data on TH103 from Part 1 of the trial in the second half of 2025.

Kalaris chief executive office Andrew Oxtoby noted that the merger with AlloVir is expected to “provide us with the financial resources to continue development of TH103 beyond the initiation of our planned phase 2 clinical trial.”