Pharma BD Deal Intelligence

Avere Therapeutics / NextCure, Inc.

2026 · Reverse Merger · Pending

NextCure and privately held Avere Therapeutics agreed to an all-stock merger in which pre-merger Avere stockholders will own approximately 98.79% and pre-merger NextCure stockholders approximately 1.21% of the combined company, which will operate as Avere Therapeutics and trade on Nasdaq under 'AVRX'. The transaction is accompanied by a $320 million private financing led by Fairmount and Hansoh Pharmaceutical Group (including $251 million of convertible notes exchanged at closing) to fund the once-weekly oral IL-23 receptor antagonist AVR-001 through a Phase 2b psoriasis readout; closing is expected in the second half of 2026.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal, once/if it closes.

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