MergerJul 14, 2026, 07:06 AM
NextCure and Avere Therapeutics Merge; $320M Private Investment
AI Summary
NextCure, Inc. and Avere Therapeutics, Inc. announced a definitive merger agreement, with the combined entity to operate as Avere Therapeutics, Inc. under the ticker AVRX. The transaction includes a concurrent $320 million private placement, led by Fairmount and Hansoh Pharmaceutical Group, to advance Avere's lead program, AVR-001, an oral IL-23 receptor antagonist. This financing is expected to fund AVR-001 through Phase 2b readout in psoriasis, initiation of a Phase 3 trial in psoriasis, and initiation of a Phase 2b trial in ulcerative colitis. Upon closing, pre-merger Avere stockholders will own approximately 98.79% of the combined company, while NextCure stockholders will own about 1.21%.
Key Highlights
- NextCure and Avere Therapeutics entered into a definitive merger agreement.
- Combined company will operate as Avere Therapeutics, Inc. (AVRX).
- Concurrent $320 million private placement secured.
- Pre-merger Avere stockholders to own approximately 98.79% of combined company.
- Pre-merger NextCure stockholders to own approximately 1.21% of combined company.
- Financing to fund AVR-001 through Phase 2b psoriasis readout and Phase 3 initiation.
- AVR-001 is a once-weekly oral IL-23 receptor antagonist.
- Hansoh to receive $120 million upfront and up to $2.18 billion in milestones for AVR-001.
Price Impact
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