# Avalo Therapeutics funding: rounds and investors

> Avalo Therapeutics has raised $501M across 2 rounds since 2024. Investors include OrbiMed, RA Capital Management and TCG. Every round with its source.

Source: https://millionrounds.com/company/avalo-therapeutics (Millionrounds; every figure on the page links to its filing or article)

United States · [Funded startup](https://millionrounds.com/companies)

# Who invested in *Avalo Therapeutics*

2 rounds we have observed, with the 4 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Biotech

Raised 6 months ago

Funding summary Updated 26 Oct 2026

**$501M** raised across 2 rounds since 2024, from 2 sources

**$69M** Round **$431M** Round

- **Latest round:** Round, $431M May 2026
- **Step-up i:** 6.2×
- **Investors:** 4

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2025 2026

**$69M** Round

**$431M** Round

- **First round:** Round, $69M
- **Biggest round:** $431M
- **Between rounds:** 18 months

## The rounds

- **May 2026** Round **$431M** *4 returning* [OrbiMed](https://millionrounds.com/fund/orbimed) [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) [TCG](https://millionrounds.com/fund/tcg) [TCG Crossover](https://millionrounds.com/fund/tcg-crossover) Source recorded
- **Nov 2024** Round **$69M** *4 new* [OrbiMed](https://millionrounds.com/fund/orbimed) [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) [TCG](https://millionrounds.com/fund/tcg) [TCG Crossover](https://millionrounds.com/fund/tcg-crossover) Source recorded

## Founders and team

From Avalo Therapeutics's own website and the SEC filings it signed: 8 on the team.

- **Kathleen Cohen** Senior Vice President, Clinical Development Operations
- **Chris Sullivan** Chief Financial Officer
- **Jennifer Riley** Chief Strategy Officer
- **Paul Varki** Chief Legal Officer
- **Taylor Boyd** Chief Business Officer
- **Michael Heffernan** Chairman of the Board
- **Christopher Sullivan** Executive Officer i
- **Garry Neil** Executive Officer, Director i

On the board, as filed i *Aaron Kantoff* *Gilla Kaplan* *Jonathan Goldman* *June Almenoff* *Magnus Persson* *Mitchell Chan* *Samantha Truex*

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Round** 2024 **Round** 2026 [OrbiMed](https://millionrounds.com/fund/orbimed) [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) [TCG](https://millionrounds.com/fund/tcg) [TCG Crossover](https://millionrounds.com/fund/tcg-crossover)

## Everyone who backed them

[OrbiMed](https://millionrounds.com/fund/orbimed) Private equity **2** rounds

[RA Capital Management](https://millionrounds.com/fund/ra-capital-management) Private equity **2** rounds

[TCG](https://millionrounds.com/fund/tcg) Private equity **2** rounds

[TCG Crossover](https://millionrounds.com/fund/tcg-crossover) VC firm **2** rounds

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=avalo-therapeutics).

## Quick answers about Avalo Therapeutics

### Who invested in Avalo Therapeutics?

Avalo Therapeutics's investors include OrbiMed, RA Capital Management, TCG and TCG Crossover.

### How much has Avalo Therapeutics raised?

Avalo Therapeutics has raised $501M across 2 rounds since 2024.

### When did Avalo Therapeutics last raise?

Avalo Therapeutics's most recent round was an Undisclosed round of $431M in May 2026.

### What was Avalo Therapeutics's biggest round?

Its most recent round, $431M in May 2026, is also its largest on record.

### Who backed Avalo Therapeutics first?

Avalo Therapeutics's first round on record, in Nov 2024, was backed by OrbiMed, RA Capital Management and TCG and 1 others.

### What stage is Avalo Therapeutics at?

Avalo Therapeutics's latest named round is an Undisclosed round, in May 2026.

### Where is Avalo Therapeutics based?

Avalo Therapeutics is based in the United States.

## Companies like Avalo Therapeutics

In the same sector, and raised in the last eighteen months.

[**Star Therapeutics** $325M · Oct 2026](https://millionrounds.com/company/star-therapeutics)[**Promaxo** $106M · Oct 2026](https://millionrounds.com/company/promaxo)[**Prolific Machines** $105M · Oct 2026](https://millionrounds.com/company/prolific-machines)[**IMIO** $19M · Oct 2026](https://millionrounds.com/company/imio)[**Clinical Ink** $24M · Oct 2026](https://millionrounds.com/company/clinical-ink)[**Rejuvenate Bio** $13M · Oct 2026](https://millionrounds.com/company/rejuvenate-bio)

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