Avere Therapeutics Announces $500 Million Private Placement to Support Development of Once-Weekly Oral IL-23 Therapy AVR-001
Avere Therapeutics raised an additional $500 million in a private placement, supplementing a prior $320 million raise to fully fund the combined company's operations into 2029. The financing, supported by a syndicate of top-tier investors including Venrock and Blackstone, is expected to close immediately prior to the merger with NextCure.
Key figures
- Drug name
- AVR-001
- Cash runway
- into 2029
- Financing amount usd
- 500000000
- Concurrent financing usd
- 320000000
- Shares outstanding as converted
- 449668672
AI analysis
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