Merging with NextCure, Avere Therapeutics is based on a clinical-stage oral IL-23 receptor antagonist licensed from China's Hansoh Pharmaceutical for $120 million upfront.

Set to go public via a reverse merger, Avere has licensed from a prolific Chinese drugmaker rights to a potential threat to medicines like Skyrizi and Icotyde.

Merging with NextCure, Avere Therapeutics is based on a clinical-stage oral IL-23 receptor antagonist licensed from China's Hansoh Pharmaceutical for $120 million upfront.