Pharma BD Deal Intelligence
RallyBio tries again for reverse merger, this time with Avenzo. A month after Rallybio's plans to merge with privately held Candid Therapeutics dissolved, the…
Cancer drug startup Avenzo gets $215M as it goes public via Rallybio merger. Rallybio will acquire Avenzo in an all-stock reverse merger, with the combined…
Rallybio Avenzo Merger and $215M Financing | Lucid Diligence Brief. The brief characterizes the deal as fundamentally a reverse-merger vehicle for Avenzo to…
Source summaries from our enrichment pipeline; follow links for originals.
All 13 sources with sentiment breakdown →
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.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Rallybio Corporation / Avenzo Therapeutics Inc. (this deal) | 2026 | $300M | 66 |
| AstraZeneca PLC / Daiichi Sankyo Company, Limited | 2019 | $6.9B | 100 |
| Novartis AG / Endocyte, Inc. | 2018 | $2.1B | 96 |
| Astellas Pharma Inc. / Seagen Inc. | 2009 | $4.5B | 95 |
| Bristol-Myers Squibb Company / Medarex Inc. | 2009 | $2.4B | 92 |
| Servier / Agios Pharmaceuticals (oncology) | 2020 | $2.0B | 91 |
| Servier Pharmaceuticals LLC / Agios Pharmaceuticals Inc. | 2020 | $2.0B | 91 |
← Browse all deals · How we score deals
More: 2026 deals · Oncology deals