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NextCure
NextCure translates Lieping Chen's Yale immunobiology into clinical-stage cancer antibodies, testing Siglec-15 and LAIR-2 programs through phase 2 trials.
NextCure
NextCure launched in 2015 around science from Lieping Chen's laboratory at Yale School of Medicine, where researchers identified Siglec-15 as a novel immune-suppressive molecule distinct from the PD-L1 pathway. Chen, a pioneer in immuno-oncology known for co-discovering the PD-L1/PD-1 axis, built the company with CSO Solomon Langermann and CEO Michael Richman to commercialize therapies targeting myeloid cells and the tumor microenvironment. The firm went public on Nasdaq in May 2019, raising approximately $75 million in its IPO (per the firm, May 2019). The company's strategy concentrates on antibody-based immunotherapies for solid tumors where existing checkpoint inhibitors have limited efficacy. Lead asset NC318 targets Siglec-15, a protein expressed on tumor-associated macrophages and tumor cells, to restore T-cell function. NextCure advanced NC318 into a phase 2 trial in non-small cell lung cancer, with an interim update in January 2021 showing partial responses in a subset of patients (per the firm, January 2021). A second clinical candidate, NC410, combines a LAIR-2 fusion protein with PD-L1 blockade to modulate the extracellular matrix in tumors. The discovery engine, FIND-IO, screens for novel immune modulators and has yielded additional preclinical programs targeting B7-H4 and other checkpoints. Pipeline development focuses on the U.S. clinical trial network. The firm operated with approximately 90 employees at the close of 2021 (per SEC filing, 2021) from its headquarters in Beltsville, Maryland. Chief Medical Officer Han Myint joined in 2020 to steer clinical operations. Cash and marketable securities totaled roughly $237 million at year-end 2021, giving the company a multi-year operational runway against ongoing trial costs. July 2022: NextCure appointed Kevin Heller as Chief Medical Officer, replacing Myint, signaling a clinical leadership transition as NC318 data matured. What distinguishes the firm structurally is its discovery-platform model inside a clinical-stage biotech — it does not license externally but builds assets from Chen-lab target identification through in-house antibody engineering. This vertical integration creates a hedged pipeline where platform output can sustain the enterprise beyond any single trial outcome. The dual focus on myeloid biology and extracellular matrix modulation also carves a narrow, differentiated lane in an industry dominated by T-cell-centric approaches.
General information
Firm type
Asset Manager
Year founded
2015
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Beltsville
Corporate office
Beltsville, MD, United States
Principals
Michael Richman
President and Chief Executive Officer
Solomon Langermann
Chief Scientific Officer
Lieping Chen
Founder
Sector focus
Frequently asked questions
Who runs investment decisions at NextCure?
NextCure is not an investment firm; it is a clinical-stage biotech company. Capital allocation decisions sit with CEO Michael Richman and the board of directors, which includes representatives from institutional investors. Research and pipeline prioritization are led by CSO Solomon Langermann alongside the scientific leadership team.
What is the scientific thesis behind the company's lead drug candidate?
NC318 targets Siglec-15, a molecule identified in Lieping Chen's Yale lab that suppresses T-cell immune responses in tumors that do not express PD-L1. Unlike PD-1/PD-L1 inhibitors that act directly on T-cells, Siglec-15 is expressed on myeloid cells and tumor tissue, opening a complementary checkpoint mechanism. The hypothesis is that blocking Siglec-15 can revive anti-tumor immunity in patient populations where existing checkpoint drugs fail.
How does the FIND-IO platform generate pipeline assets?
FIND-IO is a proprietary antigen-discovery platform that screens for proteins directly on tumor cells and immune cells within the tumor microenvironment. It identifies novel functional immune modulators by evaluating their ability to influence T-cell and myeloid cell activity, rather than relying on genomic sequencing alone. The platform produced NC318, NC410, and preclinical programs against B7-H4 and other targets.
What investment stages does NextCure typically target?
NextCure operates as a publicly traded biotech company developing its own therapeutic pipeline, not as an investor in external companies or assets. It deploys capital into internal clinical development, manufacturing, and discovery research. Its publicly listed equity on Nasdaq represents the primary vehicle for external investment exposure.
What is NextCure's known posture on co-investments alongside external partners?
The firm has not established a co-investment vehicle. It has historically funded operations through equity offerings and its own balance sheet rather than through partnered capital pools. Strategic collaborators, if any, would be disclosed in SEC filings, but no co-investment club or coinvesting platform is publicly recorded.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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