San Francisco – August 10, 2026 – Cooley advised Jefferies, TD Cowen, Evercore ISI, UBS Investment Bank and Wedbush & Co., LLC as the placement agents to Avere Therapeutics, a privately held biotechnology company advancing oral therapies for IL-23 driven inflammatory diseases, in connection with a $500 million private placement from a syndicate of leading healthcare investors. Participants in the private placement included Venrock Healthcare Capital Partners, General Atlantic, Blackstone Multi-Asset Investing, RTW Investments, Eventide Asset Management, BB Biotech, Sirenia Capital Management LP, ADAR1 Capital Management, Wellington Management, Janus Henderson Investors and other institutional investors.

The private placement is in addition to the previously announced $320 million concurrent private investment, and the combined proceeds will support the continued development of Avere's lead program, AVR-001, a once-weekly oral IL-23 receptor antagonist.

Partners Denny Won, Charlie Kim and Div Gupta led the Cooley team advising the placement agents.

Cooley previously advised Jefferies and Wedbush & Co., LLC as the placement agents to Avere in connection with a $320 million private investment concurrent with its merger with NextCure in July 2026.

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