Avere Therapeutics Announces $500 Million Private Placement to Support Development of Once-Weekly Oral IL-23 Therapy AVR-001
Avere Therapeutics announced a $500 million private placement from leading healthcare investors, in addition to a previously announced $320 million concurrent private investment. The combined proceeds are expected to fully fund Avere's operating plan into 2029 and support development of its lead program, AVR-001, a once-weekly oral IL-23 receptor antagonist.
Why it matters — This financing strengthens the combined company's balance sheet to accelerate development of AVR-001, a development program relevant to NXTC watchers following the entity.