# Akero veterans, backed by Fairmount, form Avere Therapeutics to advance an oral IL‑23 program
A former leadership trio from Akero Therapeutics has launched a new publicly traded biotech, Avere Therapeutics, in partnership with the corporate-venture firm Fairmount.
The company will develop a long‑acting, orally administered IL‑23–targeting agent sourced from a Chinese developer for inflammatory and immune-mediated disorders.
Avere Therapeutics is a newly formed, publicly traded biotechnology company created by former Akero management and backed by Fairmount.
The firm will pursue development of an oral, long‑acting IL‑23–targeted drug obtained from a Chinese company, with initial clinical indications including psoriasis and ulcerative colitis.
That Akero team developed a therapeutic for metabolic dysfunction-associated steatohepatitis (MASH; also called NASH in other nomenclature) and sold the company to Novo Nordisk in a transaction valued at $5 billion.
The program is reported to be an orally administered agent that targets interleukin‑23 (IL‑23), a cytokine implicated in several immune-mediated diseases.
The source indicates the drug was acquired from a Chinese firm; specifics about its molecular class (small molecule, peptide, or other), formulation strategy, pharmacokinetic profile, or mechanism beyond IL‑23 targeting were not provided.
The source also refers broadly to “other immunological conditions,” without enumerating them.
There is no explicit mention of planned trial designs, endpoints, or timelines.
The selection of psoriasis and ulcerative colitis as initial targets reflects disease settings in which IL‑23–directed strategies have clinical precedent.
The source, however, does not describe how this oral IL‑23 approach compares mechanistically or clinically with existing IL‑23–modulating therapies.
The asset will be developed for psoriasis, ulcerative colitis, and similar immune conditions.
The source indicates Fairmount’s involvement as a company-creation investor, suggesting a model focused on building and scaling new ventures.
The source does not claim comparative advantages, but the choice of an oral, long‑acting modality signals an intent to explore differentiated delivery and patient convenience as potential value drivers.
The source does not provide information on existing data packages, intellectual property status, or global licensing terms.
Q: Who are the founders of Avere Therapeutics?
A: The company is led by Andrew Cheng, Kitty Yale, and William White, who previously served as executives at Akero Therapeutics.
Q: What is the therapeutic focus of the new company?
A: Avere’s initial program is an oral, long‑acting IL‑23–targeted drug that the team acquired from a Chinese firm.
The company intends to develop it for psoriasis, ulcerative colitis, and other immunological disorders.
Q: What clinical data exist for the IL‑23 program?
A: The public report does not provide any clinical or preclinical data, information on development stage, or details about prior studies for the acquired asset.
Q: Who is backing the new venture?
A: Fairmount, described as an active company‑creation investor in the sector, is a partner in founding and supporting Avere Therapeutics.
Avere Therapeutics represents a serial‑founder team’s reentry into the biotech arena, this time targeting immune diseases with an orally dosed, long‑acting IL‑23 program sourced from China and supported by Fairmount.
The announcement emphasizes leadership pedigree and strategic intent but supplies limited scientific or clinical detail about the candidate.
As disclosed, the plan centers on psoriasis and ulcerative colitis, with broader immunological indications contemplated.
Further information on the molecule’s mechanism, data, development timeline, and regulatory strategy was not reported in the initial disclosure.