WASHINGTON (dpa-AFX) - Paragon Labs announced that several former senior executives from Apogee Therapeutics (APGE) have joined its leadership team, while Alaunos Therapeutics, Inc. (TCRT) completed its acquisition of Velaris Therapeutics, Inc., a biotechnology company focused on pulmonary hypertension and related cardiopulmonary diseases.
The expanded Paragon leadership team is headed by Michael Henderson, M.D., Chief Executive Officer, and Carl Dambkowski, M.D., Head of R&D, along with former Apogee executives in financial, leagal and human resources roles. The team previously worked together at Apogee, where they helped advance five Paragon-discovered assets into clinical development before Apogee's acquisition by AbbVie (ABBV) in 2026.
Paragon said the additional leadership expertise will support the clinical development of Paragon-discovered assets and the formation of new biotechnology companies around promising therapeutic candidates.
The first company to benefit from the expanded leadership team is Velaris Therapeutics, which is developing therapies for pulmonary arterial hypertension and related cardiopulmonary diseases. Velaris is the ninth company launched around assets discovered by Paragon.
Separately, Alaunos Therapeutics announced the completion of its acquisition of Velaris, adding a portfolio of ActRII-Fc ligand traps and other biological candidates designed to address signaling pathways involved in pulmonary vascular disease.
According to Alaunos, the acquisition positions the company to advance multiple programs targeting pulmonary arterial hypertension and other cardiopulmonary conditions. The company has also reported financing intended to support operations into 2029.
TCRT has traded between $0.72 and $4.50 over the past year. The stock closed Monday's trading at $1.05, up 33.62%. In pre-market trading the stock is at $1.78, up 70.48%.
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