Valion Bio (VIBO) Registration filing summary

Company overview and business model

• Focused biopharmaceutical company advancing Entolimod, a TLR5 agonist, for Acute Radiation Syndrome (ARS) and oncology indications.

• Transitioned from a bioelectronic medical device company to a biologics-focused model in 2025.

• Acquired exclusive worldwide rights to Entolimod and Entolasta, and launched Velocity Bioworks, a CDMO subsidiary, in December 2025.

• Exited consumer healthtech and non-invasive cervical vagus nerve stimulation businesses to concentrate resources on biologics.

• Velocity Bioworks provides internal manufacturing and external CDMO services, aiming for operational efficiency and diversified revenue.

Financial performance and metrics

• Net tangible book value as of March 31, 2026, was $2.2 million ($0.77 per share).

• After the offering, pro forma net tangible book value would be $15.9 million ($0.48 per share), with immediate dilution of $0.03 per share to new investors.

• Minimal revenue expected during transition; incurred $347,000 in charges for business wind-down in 2025.

Use of proceeds and capital allocation

• Estimated net proceeds of $13.7 million (assuming full sale), to be used for Entolimod R&D and general corporate purposes.

• Management retains broad discretion over allocation; proceeds may also support acquisitions or investments in complementary assets.

• Proceeds may be less if fewer securities are sold, as there is no minimum offering amount.