The financing round drew participation from a syndicate of prominent healthcare investors, including Venrock Healthcare Capital Partners, General Atlantic, and Blackstone Multi-Asset Investing. These funds are earmarked for the advancement of AVR-001, an oral IL-23 receptor antagonist designed for once-weekly dosing in patients with inflammatory conditions such as psoriasis, ulcerative colitis, and Crohn’s disease.
In section Releases
Avere Therapeutics Secures $500 Million to Advance Oral IL-23 Therapy
Avere Therapeutics has finalized a $500 million private placement, bolstering its financial runway to support the development of its lead drug candidate, AVR-001. This capital injection, coupled with a previously announced $320 million investment, ensures the biotech firm remains fully funded through 2029 as it pursues a transition to public markets.
This capital raise arrives as Avere prepares for a definitive merger with NextCure, Inc. The all-stock transaction, slated for completion in the second half of 2026, will result in a combined entity operating under the Avere Therapeutics name on the Nasdaq exchange under the ticker symbol AVRX. The current financing is expected to close immediately prior to the merger, providing the scale necessary to compete in the crowded therapeutic landscape for IL-23-driven diseases.
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