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HANSOH PHARMA: Avere to Merge into NextCure, Expected to Hold 30%+ Stake in Combined Entity
2026-07-14 18:24:04 HANSOH PHARMA (03692.HK) announced that Avere (an investee company of the Company) and NextCure (NXTC.US) entered into a merger agreement, pursuant to which Avere will be merged into NextCure. In connection therewith, the Group (i) has granted an exclusive license to Avere in respect of HS-20118 (AVR-001), a cyclic peptide interleukin-23 (IL-23) receptor antagonist; and (ii) has participated in a private placement conducted by Avere in which other investors also participated. Avere entered into the Merger Agreement with NextCure for an all-stock transaction. The Merger Agreement brings together Avere’s differentiated oral IL-23 program with NextCure’s public market infrastructure to accelerate the development of the Product. Upon completion of the transaction, which is expected to occur in the second half of 2026, the combined entity is expected to operate as Avere Therapeutics, Inc. and trade under the ticker symbol (AVRX.US). Immediately upon completion of the transactions described above, the Group is expected to hold more than 30% but less than 40% of the total issued share capital of the combined entity. Accordingly, the financial results of the combined entity will be accounted for by the equity method and not be consolidated into the consolidated financial statements of the Company. On June 15, 2026, the Group entered into an exclusive license agreement with Avere for the Product. Under the License Agreement, the Group granted an exclusive license to Avere to develop, manufacture and commercialize the Product globally (excluding the Chinese Mainland, Hong Kong, Macau and Taiwan), subject to the terms and conditions thereof. The Group is eligible to receive upfront payments totaling US$120 million and up to US$2.18 billion in milestone payments associated with development and sales, as well as mid-single to low-double digit royalty payments on sales in the Licensed Territory. ~ AASTOCKS Financial News Website: www.aastocks.com | |