Paragon Labs launches ninth biotech, Velaris Therapeutics, via reverse merger to bring cardiopulmonary drugs to Alaunos

Paragon Labs announced the creation of its ninth biotech company, Velaris Therapeutics, using a reverse‑merger approach it has refined over the past four years.

The transaction was completed on Tuesday, moving Velaris directly onto public markets without a traditional IPO process.

Velaris will focus on developing cardiopulmonary medicines and will operate under the Alaunos umbrella, extending Paragon's portfolio in that therapeutic area.

The move highlights Paragon's continued strategy of leveraging reverse mergers to accelerate the commercialization of its pipeline assets.