04:17 AM EDT, 03/19/2025 (MT Newswires) -- Kalaris Therapeutics (KLRS) said late Tuesday it has completed a merger with AlloVir.

The combined company to operate under the name Kalaris Therapeutics. It will begin trading on Nasdaq on Monday under the ticker symbol, "KLRS."

The merged entity holds about $100 million in cash, which is expected to fund operations through Q4 2026.

Kalaris said it is focused on developing TH103, an anti-VEGF agent for treating retinal diseases, with initial phase 1 trial data expected in H2 2025.

Andrew Oxtoby, CEO of Kalaris, will lead the combined company.

Following the merger, the company said pre-merger Kalaris shareholders hold 74.47%, while pre-merger AlloVir shareholders hold 25.53% of the combined company's shares.