The company is currently running a Phase I study of its lead candidate, the antibody-drug conjugate VLS-101, in patients with lymphomas and leukemias. It has two additional antibody-drug conjugates and a bispecific antibody in preclinical development.
The Seattle-based company is one of several that have raised venture capital and equity investment funding this week.
Employees who enjoy their benefits are more inclined to stay with their company. A 2025 Marsh McLennan Agency report said 73% of employees would remain if plan options were better.
The company is working to move its CD47-targeting drug, ALX148, into Phase II development. Another company, Forty Seven, is also developing a CD47-targeting therapy. CD47 is an immune checkpoint distinct from the ones targeted by currently marketed cancer immunotherapy drugs.