Pharma BD Deal Intelligence
On June 1, 2026 (agreement signed May 31), Rallybio Corporation (Nasdaq: RLYB) agreed to merge with privately held oncology company Avenzo Therapeutics in a reverse merger; the combined company will operate as Avenzo Therapeutics and trade on Nasdaq under the ticker 'AVZO'. Concurrently, Avenzo entered subscription agreements for an oversubscribed ~$215 million private placement, expected to fund operations into late 2028. The combined company advances Avenzo's next-generation oncology portfolio of small molecules and antibody-drug conjugates. No acquisition consideration was disclosed (stock-for-stock reverse merger); the $215M reflects concurrent PIPE financing, not deal value.