Hansoh Pharmaceutical (03692.HK): Enters Licensing and Equity Investment Transaction with Avere Therapeutics

NewTimeSpace News: On 14 July 2026, Hansoh Pharmaceutical (03692.HK) issued an announcement that Avere Therapeutics, its investee company, has signed a merger agreement with Nasdaq-listed NextCure. Avere will be consolidated into NextCure. The combined entity is expected to be renamed Avere Therapeutics and trade under the ticker symbol "AVRX", with the transaction slated to close in the second half of 2026.

Previously, the Company granted Avere exclusive global rights (excluding Chinese Mainland, Hong Kong, Macao and Taiwan) to HS-20118, an oral cyclic peptide IL-23 receptor antagonist. Hansoh is entitled to an upfront payment totalling USD 120 million, milestone payments of up to USD 2.18 billion, and mid-single-digit to low double-digit percentage royalties.

As disclosed in the announcement, Hansoh Pharmaceutical also made a minority equity investment in Avere through its private placement by subscribing to convertible notes. Upon completion of the merger, the Company is expected to hold more than 30% but less than 40% of the issued share capital of the combined entity, which will be accounted for using the equity method.

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