San Francisco, California, USA, August 10, 2026
Avere Therapeutics, Inc. has announced a $500 million private placement from a syndicate of leading healthcare investors to support the continued development of AVR-001, the company’s once-weekly oral IL-23 receptor antagonist for inflammatory diseases. The new financing comes in addition to a previously announced $320 million concurrent private investment, with the combined proceeds expected to fully fund Avere’s operating plan through 2029. The financing strengthens the company’s resources as it advances its lead therapeutic program and prepares for further development of an oral treatment designed to target IL-23-driven inflammatory diseases.
$500 Million Financing Supports AVR-001 Development
The $500 million private placement consists of common stock and pre-funded warrants to purchase common stock. Participants include several prominent healthcare investment firms, including Venrock Healthcare Capital Partners, General Atlantic, Blackstone Multi-Asset Investing, RTW Investments, Eventide Asset Management, BB Biotech, Sirenia Capital Management, ADAR1 Capital Management, Wellington Management, and Janus Henderson Investors, among others. The transaction and the previously announced concurrent private placement are expected to close immediately before completion of Avere’s proposed merger with NextCure.
According to Avere, the combined financing is expected to provide sufficient capital to fully fund its operating plan into 2029. The company intends to use the strengthened financial position to accelerate development activities surrounding AVR-001, its lead oral therapeutic candidate. The financing represents a significant capital commitment toward advancing a novel approach to treating diseases driven by the IL-23 pathway.
Once-Weekly Oral IL-23 Therapy Targets Inflammatory Diseases
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AVR-001 is an oral IL-23 receptor antagonist being developed by Avere for inflammatory diseases in which the IL-23 pathway plays an important role. The company is initially advancing the candidate in psoriasis, with potential future expansion into additional inflammatory conditions, including ulcerative colitis, Crohn’s disease, and psoriatic arthritis. These potential indications reflect therapeutic areas where the IL-23 pathway has already been validated and where Avere believes more convenient treatment options could address ongoing patient needs.
The company describes AVR-001 as having the potential to provide efficacy comparable with emerging oral IL-23 therapies while offering a once-weekly dosing schedule. If successful in clinical development, this dosing approach could provide a more convenient administration option for patients requiring long-term treatment for chronic inflammatory diseases. However, Avere notes that the potential of AVR-001, including its ability to achieve clinical proof of concept, efficacy, and once-weekly dosing convenience, remains subject to future development and clinical evaluation.
Proposed Merger Strengthens Development Platform
The financing announcement comes as Avere and NextCure, Inc. move forward with a previously announced all-stock merger agreement. The transaction is expected to close in the second half of 2026, subject to customary conditions and required approvals. Following completion, the combined company is expected to operate as Avere Therapeutics, Inc. and trade on Nasdaq under the proposed ticker symbol AVRX.
The combination of the proposed merger and substantial new financing is intended to create a stronger financial platform for advancing Avere’s therapeutic pipeline. With resources expected to extend through 2029, the company plans to continue research and development activities for AVR-001 and pursue its broader strategy in IL-23-driven inflammatory diseases. The latest financing highlights continued investor interest in oral immunology therapies and innovative approaches to inflammatory disease treatment. Avere’s focus on a once-weekly oral IL-23 receptor antagonist positions AVR-001 as a development-stage candidate to watch as the company progresses toward additional clinical milestones. The success of the program will ultimately depend on clinical results, safety and tolerability, regulatory requirements, and the company’s ability to execute its development strategy.
Source: Avere Therapeutics press release
