Biopharmaceutical companies AlloVir and Kalaris Therapeutics have announced plans to merge, forming a new company that will operate under the Kalaris Therapeutics name. The transaction is expected to close in the first quarter of 2025, subject to shareholder approval, according to a press release. The merged company’s leadership will include key executives from both firms, with the goal of advancing innovative therapies in the $14 billion anti-VEGF market for retinal disease.

AlloVir is a clinical-stage cell therapy company that is focused on developing allogeneic, virus-specific T cell (VST) therapies to treat or prevent viral diseases. Kalaris Therapeutics's lead asset, TH103, a long-acting, humanized recombinant fusion protein designed by VEGF pioneer Dr. Napoleone Ferrara, is currently in a phase 1 trial for neovascular age-related macular degeneration (nAMD). The therapy has shown promising preclinical results with superior anti-VEGF activity and retention in the retina, positioning it as a potential advance over existing treatments, the company said. Plans to evaluate TH103’s application as a treatment for diabetic macular edema and retinal vein occlusion are also in development, the company reported.