Avere in-licenses Hansoh's oral IL-23 drug, lists via NextCure reverse merger and raises $320M
Illustration (decorative, not data).Summary
Avere takes rights outside Greater China to Hansoh's oral IL-23 inhibitor AVR-001 and, at the same time, reverse-merges with NextCure to list on Nasdaq (ticker AVRX); NextCure's existing shareholders own just over 1% of the combined company. AVR-001 is positioned as an oral psoriasis drug with a longer dosing interval than J&J's daily oral IL-23 drug; Hansoh has started a Phase 2b in China and Avere has applied to begin US clinical trials. The team comes from Akero, which Novo Nordisk acquired for $4.7 billion. License, reverse merger and financing completed in one move — with Hansoh as both licensor and lead investor — is a new variant of the NewCo model.
Deal terms, as disclosed
License: $120M upfront + up to $2.18B milestones + royalties; private placement led by Fairmount and Hansoh.
Summary of public disclosures, not investment advice. Amounts are as announced; milestone payments are contingent and may never be paid.
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