MergerJul 14, 2026, 06:01 AM
NextCure to Merge with Avere; $320M Private Investment
AI Summary
NextCure, Inc. and Avere Therapeutics, Inc. announced a definitive merger agreement in an all-stock transaction. Concurrently, Avere secured a $320 million private investment led by Fairmount and Hansoh Pharmaceutical, ensuring the combined company is well-capitalized. The combined entity, to be named Avere Therapeutics, Inc. and trade as "AVRX", will focus on advancing AVR-001, an oral IL-23 receptor antagonist, through Phase 2b and Phase 3 trials in psoriasis and Phase 2b in ulcerative colitis. The investment is expected to fund operations through key clinical milestones, and the company will be led by a seasoned biotech executive team.
Key Highlights
- NextCure and Avere Therapeutics entered a definitive all-stock merger agreement.
- A concurrent $320 million private placement was led by Fairmount and Hansoh Pharmaceutical.
- Pre-merger NextCure stockholders to own approximately 1.21% of the combined company.
- Pre-merger Avere stockholders to own approximately 98.79% of the combined company.
- Combined company to operate as Avere Therapeutics, Inc. and trade as "AVRX" on Nasdaq.
- Andrew Cheng, MD, PhD to lead the combined company as CEO, President, & Chairman.
- Financing expected to fund AVR-001 through Phase 2b readout in psoriasis and Phase 3 initiation.
- Avere secured ex-China rights for AVR-001 from Hansoh for $120M upfront and up to $2.18B milestones.
Price Impact
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