Avere Therapeutics has closed a USD 515 million private placement, bringing total fundraising to USD 825 million within two months following its June 2026 exclusive licence from China-based Hansoh Pharma for AVR-001, a once-weekly oral IL-23 receptor cyclic peptide for autoimmune diseases. The deal includes USD 120 million upfront, up to USD 2.18 billion in milestones, and Hansoh's convertible-note participation alongside a reverse merger with NASDAQ-listed NextCure that gives Hansoh an estimated 30% to 40% stake and board representation. Investors include Venrock Healthcare Capital Partners, General Atlantic, Blackstone Multi-Asset Investing, and RTW Investments.

AVR-001 incorporates a C16 fatty-acid modification to extend half-life to approximately 100 hours, enabling weekly oral dosing versus daily icotrokinra. Phase I multiple-ascending-dose data in psoriasis showed a 46% PASI reduction at week 4 and 68% at week 8 (four weeks off drug), with 59% achieving PASI 75 at week 8 and no dose-limiting toxicity. Avere plans a Phase IIb psoriasis readout in 2027 alongside Phase IIb initiation in ulcerative colitis.