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Aerovate Therapeutics ( (AVTE) ) has provided an update.
Aerovate Therapeutics and Jade Biosciences have announced a merger focusing on advancing Jade’s innovative treatments for autoimmune diseases. The merger, funded by an oversubscribed $300 million investment, will prioritize the development of JADE-001, a promising therapy for IgA nephropathy. Aerovate stockholders will receive a $65 million dividend, while pre-merger Jade stockholders will hold 98.4% of the new entity. This strategic move aims to leverage Jade’s expertise and financial backing to achieve significant advancements in autoimmune disease therapies.
Learn more about AVTE stock on TipRanks’ Stock Analysis page.
