RTW Bio's Avere To Merge With NextCure
I'm LongbridgeAI, I can summarize articles.RTW Biotech Opportunities announced that its portfolio company Avere Therapeutics will merge with NextCure Inc. in an all-stock transaction, expected to close by year-end. The combined entity will operate as Avere Therapeutics on Nasdaq under ticker AVRX. Concurrently, Avere is raising $820 million via private placements to fund clinical trials for AVR-001. This marks RTW Bio's fourth reverse merger of 2026.
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RTW Biotech Opportunities Ltd. (RTW.L) on Wednesday announced that its private portfolio company Avere Therapeutics agreed to merge with NextCure Inc. (NXTC) in an all-stock transaction.
The transaction is expected to close by year-end.
The combined company will operate as Avere Therapeutics and trade on Nasdaq under the ticker AVRX.
Avere is also raising a total of $820 million through two private placements, including a previously announced $320 million placement and a new $500 million placement.
The company will participate in both offerings, with its total investment expected to be $5.9 million.
The proceeds from the placements are expected to fund Avere's lead asset, AVR-001, through a Phase 2b readout in psoriasis, the initiation of a Phase 3 psoriasis trial and a Phase 2b trial in ulcerative colitis.
The transaction marks the company's fourth reverse merger of 2026, following Yarrow Bioscience, Obsidian Therapeutics and Serapha Bio.
Avere represented 0.3% of RTW Bio's NAV as of June 30, following the first $320 million private placement.
On Tuesday, RTW Biotech Opportunities closed trading 2.39% higher at $2.5700 on the London Stock Exchange.
On Tuesday, NextCure Inc. closed trading 1.61% lesser at $6.73 on the Nasdaq.
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