Valion Bio, Inc. (NASDAQ: VBIO), a clinical-stage biopharmaceutical company, has outlined a three-part strategic agenda following the first 30 days of Dean Zikria's tenure as Interim Chief Executive Officer, according to a company statement.

The agenda centers on advancing the company's clinical pipeline, building commercial activity at its contract development and manufacturing subsidiary Velocity Bioworks, and evaluating strategic options for that subsidiary, which may include partnerships, licensing deals, joint ventures, or a sale.

Valion's lead drug candidate, Entolimod, is being developed as a potential medical countermeasure for Acute Radiation Syndrome. The program has received approximately $35.6 million in non-dilutive U.S. government funding and holds FDA Fast Track and Orphan Drug designations. The company said Entolimod is currently being evaluated by the Armed Forces Radiobiology Research Institute in a program focused on radiation-induced gastrointestinal injury, an area with no currently approved treatment.

Valion is also working with Sheba Medical Center on a clinical trial evaluating Entolimod in cancer patients receiving high-dose radiation, and is developing an oral mucosal formulation of the drug in collaboration with Shear Kershman Laboratories using that firm's BioViscid drug-delivery platform.

The company also plans to advance Entolasta, a next-generation TLR5 agonist being evaluated for potential use in oncology supportive care and other applications.

Velocity Bioworks, Valion's wholly owned CDMO subsidiary, currently supports the company's internal pipeline while offering manufacturing services to external biotechnology clients. Valion said it is actively pursuing new customer relationships for the subsidiary.

"Commercial execution and strategic flexibility are not mutually exclusive," said Mr. Zikria. "We are pursuing customer and licensing opportunities while evaluating the full range of strategic options available to us."

The company stated it has not committed to any specific transaction related to Velocity and cannot guarantee that any agreement will result on favorable terms, or at all.