NextCure licenses ADC SIM0505 from Simcere Zaiming in deal worth up to $745M

NextCure, Inc.

Upfront cash $12M + $5M payable upon financing or by Dec 31, 2025; milestones up to $745M plus tiered royalties up to double digits.
Private placement: Simcere affiliate buys 4,063,633 shares at $0.492/share for $2M; registration rights granted.
SIM0505 (CDH6-targeting ADC) in Phase 1 in China; US Phase 1 expected Q3 2025 with initial data in H1 2026.
NextCure also obtains non-exclusive license to Simcere's linker/payload for a novel target ADC; Simcere retains Greater China rights.
Cash runway into mid-2026 based on current resources; company expects to exhaust sooner if assumptions prove incorrect.

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