Form: 10-K

Annual report [Section 13 and 15(d), not S-K Item 405]

March 20, 2025


Exhibit 21.1

List of Subsidiaries of Avalo Therapeutics, Inc.

Entity Name Jurisdiction
Medgenics Medical (Israel) Ltd. State of Israel
Aevi Genomic Medicine Europe BVBA/SPRL Belgium
AlmataBio, LLC Delaware