WAYNE, Pa., June 23, 2026 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (NASDAQ:AVTX), a clinical-stage biotechnology company fully dedicated to developing therapeutics targeting the IL-1β pathway for immune-mediated inflammatory diseases, today announced the appointment of Ron Philip to its Board of Directors. Mr. Philip brings more than 30 years of biopharmaceutical leadership to the Board, with a deep background in commercial and strategic execution, including guiding multiple companies through product launches and billion dollar exits.

"We are thrilled to welcome Ron to the Board at this pivotal time for Avalo following our positive Phase 2 LOTUS topline results and transformative financing," said Garry Neil, MD, Chief Executive Officer of Avalo Therapeutics. "Ron’s strategic and commercial expertise, including his proven success bringing novel therapies to market, will be invaluable as we advance abdakibart in hidradenitis suppurativa (HS) into phase 3 and beyond. We look forward to his guidance as we work to deliver this important therapy to patients."

"I am excited to join Avalo’s Board following the compelling Phase 2 topline data for abdakibart in HS, which highlight its potential to become a best-in-disease treatment," said Ron Philip. "The trial demonstrated potential leading efficacy, a favorable safety profile, and the convenience of monthly dosing, attributes that are the cornerstones of a successful commercial product. I look forward to sharing my experience to help shape the strategic and commercial plan and ultimately bring this differentiated new treatment option to the HS community."

Mr. Philip currently serves as Executive Chair of CREATE Medicines. Previously, he served as Chief Executive Officer of Orbital Therapeutics, where he led the company through its $1.5 billion acquisition by Bristol Myers Squibb. Prior to Orbital, Mr. Philip held a series of senior leadership positions at Spark Therapeutics, ultimately serving as Chief Executive Officer. Earlier, he served as Chief Operating Officer and Chief Commercial Officer, leading the commercial launch of LUXTURNA®, Spark’s first FDA-approved gene therapy and the first gene therapy approved in the United States for a genetic disease. During his tenure, he also played a key leadership role in Spark’s $4.8 billion acquisition by Roche. Earlier in his career, Mr. Philip held senior strategy, commercial, and operational leadership roles at Pfizer and Wyeth, where he supported several successful medicines, including ENBREL® and XELJANZ®. He currently serves on the boards of Harmony Biosciences and City Therapeutics. Mr. Philip is a graduate of Drexel University.

About Avalo Therapeutics

Avalo Therapeutics is a clinical stage biotechnology company fully dedicated to developing therapeutics targeting the IL-1β pathway for immune-mediated inflammatory diseases. Our lead asset, abdakibart, is an anti-IL-1β monoclonal antibody (mAb). Positive topline data was recently reported for abdakibart in a Phase 2 clinical trial in hidradenitis suppurativa (HS). In addition to HS, we’re exploring additional opportunities to make an impact in prevalent indications that have significant remaining unmet needs. We are also advancing AVTX-010, a long-acting next-generation anti-IL-1β mAb designed to extend dosing intervals and build upon the differentiated profile established by abdakibart. For more information about Avalo, please visit www.avalotx.com.

About Abdakibart

Abdakibart is a humanized monoclonal antibody (IgG4) that binds to interleukin-1β (IL-1β) with high affinity and neutralizes its activity. IL-1β is a pro-inflammatory cytokine that plays a central role in the pathogenesis of a wide range of human diseases.1 It activates immune cells that generate proinflammatory cytokines, including IL-6, TNF-α, and IL-17. Dysregulated IL-1β signaling is a major driver of inflammation, contributing to the progression of autoimmune disorders. IL-1β inhibition has proven effective in multiple immune-mediated inflammatory diseases. ^1-3

References:¹Dinarello CA. Immunol Rev. 2018;281(1):8-27. ²Kany S et al. Int J Mol Sci. 2019;20(23):6008. ³Kimball AB et al. Presented at: American Academy of Dermatology; March 8-12, 2024; San Diego, CA.

Forward-Looking Statements

This press release includes forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond our control), which could cause actual results to differ from the forward-looking statements. Such statements may include, without limitation, statements with respect to our plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "might," "will," "could," "would," "should," "continue," "seeks," "aims," "predicts," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential," or similar expressions (including their use in the negative), or by discussions of future matters such as: therapeutic potential, clinical benefits and safety profiles of abdakibart (AVTX-009); plans to advance abdakibart into a registrational phase 3 program; plans to commercialize abdakibart; expectations regarding timing, success and data announcements of ongoing preclinical studies and clinical trials; drug development costs, reliance on investigators and enrollment of patients in clinical trials; and our plans to develop and commercialize our current and any future product candidates and the implementation of our business model and strategic plans for our business.

Any forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements including, without limitation, risks associated with: the timing and anticipated results of our current and future preclinical studies and clinical trials, supply chain, strategy and future operations; the delay of any current and future preclinical studies or clinical trials or the development of our product candidates; the risk that the results of prior preclinical studies and clinical trials may not be predictive of future results in connection with current or future preclinical studies and clinical trials, including those for abdakibart; the timing and outcome of any interactions with regulatory authorities; obtaining, maintaining and protecting our intellectual property; the availability of funding sufficient for our operating expenses and capital expenditure requirements, reliance on key personnel; regulatory risks; general economic and market risks and uncertainties, including those caused by the war in Ukraine and the Middle East; and those other risks detailed in our filings with the Securities and Exchange Commission, available at www.sec.gov. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. In addition, any forward-looking statements represent our view only as of today and should not be relied upon as representing its views as of any subsequent date. You should not rely upon forward-looking statements as predictions of future events and actual results or events could differ materially from the plans, intentions and expectations disclosed herein. Except as required by applicable law, we expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For media and investor inquiries

Christopher Sullivan, CFO

Avalo Therapeutics, Inc.

ir@avalotx.com

410-803-6793

Meru Advisors

Lauren Glaser

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Avalo Therapeutics Appoints Ron Philip to Board of Directors