Avere lands $500M for once-weekly oral IL-23 therapy ahead of Nasdaq listing
What's the deal? Avere TherapeuticsDealroom has a profile for this one. Try Dealroom →, a privately held biotechnology company developing oral treatments for IL-23-driven inflammatory diseases, has announced a $500 million private placement from healthcare investors. The financing is in addition to a previously announced $320 million concurrent private investment.
Who's backing it? Participants include Venrock Healthcare Capital PartnersDealroom has a profile for this one. Try Dealroom →, General Atlantic, Blackstone Multi-Asset Investing, RTW InvestmentsDealroom has a profile for this one. Try Dealroom →, Eventide Asset ManagementDealroom has a profile for this one. Try Dealroom →, BB BiotechDealroom has a profile for this one. Try Dealroom →, Sirenia Capital ManagementDealroom has a profile for this one. Try Dealroom →, ADAR1 Capital ManagementDealroom has a profile for this one. Try Dealroom →, Wellington Management, and Janus Henderson Investors, alongside other institutional investors.
What's the endgame? The proceeds will support development of Avere's lead programme, AVR-001, a once-weekly oral IL-23 receptor antagonist. Avere is initially advancing the therapy in psoriasis, with potential expansion into ulcerative colitis, Crohn's disease and psoriatic arthritis.
Why now? The financing is tied to Avere's proposed all-stock merger with Nasdaq-listed NextCureDealroom has a profile for this one. Try Dealroom → (Nasdaq: NXTC), announced on 14 July 2026. The private placements are expected to close immediately before the merger, which is expected to complete in the second half of 2026; the combined company is expected to trade as Avere Therapeutics under the ticker AVRX.
By the numbers. The $500 million placement consists of common stock and pre-funded warrants. Together with the earlier $320 million private investment, the proceeds are expected to fund Avere's operating plan into 2029.
Read more: PR Newswire
Image credit: Avere Therapeutics
