June 1 (Reuters) - Rallybio Corp ( RLYB ):

* RALLYBIO CORPORATION AND AVENZO THERAPEUTICS ANNOUNCE

MERGER AGREEMENT TO ADVANCE NEXT-GENERATION ONCOLOGY THERAPIES

AND $215 MILLION CONCURRENT PRIVATE PLACEMENT

* RALLYBIO ( RLYB ) - COMBINED COMPANY TO OPERATE AS AVENZO

THERAPEUTICS, TRADE AS AVZO ON NASDAQ

* RALLYBIO ( RLYB ) - PRE-DEAL RALLYBIO EQUITYHOLDERS TO OWN 2.8%,

AVENZO EQUITYHOLDERS 97.2% OF COMBINED COMPANY

* RALLYBIO ( RLYB ) - ATHENA COUNTOURIOTIS TO LEAD COMBINED COMPANY

AS CHAIR, PRESIDENT AND CEO

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