Kalaris, AlloVir Merge to Advance Retinal Disease Therapy

Kalaris Therapeutics and AlloVir Inc. have officially completed a previously announced merger, uniting under the name Kalaris Therapeutics, Inc. and trading on the Nasdaq Global Market under the ticker KLRS. The newly merged company will be led by Andrew Oxtoby, current CEO of Kalaris, alongside other existing members of Kalaris management.

First announced in November 2024, the merger aims to consolidate financial and clinical resources. The combined entity now holds approximately $100 million in cash, a figure the company states is sufficient to cover operating and capital expenses through Q4 2026, according to a company press release.

Focus on Advancing TH103 for Retinal Diseases

At the heart of the merged company's strategy is the advancement of TH103, a next-generation anti-VEGF (vascular endothelial growth factor) therapy. TH103 is designed to address unmet needs in treating neovascular age-related macular degeneration (nAMD) and other exudative retinal diseases.

“We are delighted to close this transaction, which we expect will provide us with the financial resources to continue development of TH103 beyond the initiation of our planned Phase 2 clinical trial,” said Andrew Oxtoby, CEO of Kalaris Therapeutics.

Key features of TH103 include:

• Engineered for longer-lasting anti-VEGF activity

• Demonstrated potent preclinical efficacy and sustained ocular residence time

• Targeted to overcome limitations of current nAMD therapies

Clinical Development Timeline

TH103 is currently being evaluated in an ongoing Phase 1 clinical trial in treatment-naïve nAMD patients. The trial is structured in multiple parts to:

• Assess safety, pharmacodynamics, and pharmacokinetics

• Determine the optimal therapeutic dose

• Gather preliminary evidence of efficacy

Kalaris anticipates sharing initial data from part 1 of the trial in the second half of 2025.

Outlook and Industry Impact

The merger positions Kalaris Therapeutics to become a key player in the development of novel retinal therapies, with a strong capital foundation and a focused clinical pipeline. As the global burden of retinal diseases like nAMD increases, innovative therapies with improved durability and patient outcomes remain a high priority in ophthalmology.