NextCure Inc.
(NASDAQ:NXTC) on Tuesday agreed to merge with privately held biotechnology company Avere Therapeutics in an all-stock transaction that will take Avere public while providing $320 million in financing to advance its lead oral IL-23 therapy, AVR-001.
Upon closing, expected in the second half of 2026, the combined company will operate as Avere Therapeutics and trade on Nasdaq under the ticker symbol AVRX.
The transaction combines Avere's oral IL-23 program with NextCure's public company infrastructure in an effort to accelerate the development of AVR-001, a once-weekly oral therapy being studied for inflammatory diseases, including psoriasis and ulcerative colitis. $320 Million Financing Supports Clinical Development The merger is accompanied by a $320 million private placement led by Fairmount and Hansoh Pharmaceutical Group, with participation from several institutional investors.
The financing includes $251 million in convertible notes.
