What NextCure does

NextCure, Inc. is a clinical-stage biopharmaceutical company headquartered in Beltsville, Maryland, focused on discovering and developing next-generation immuno-oncology therapeutics. Founded in 2015 by Michael Richman (President & CEO) and scientific founder Lieping Chen of Yale University, NextCure is publicly traded on NASDAQ under the ticker NXTC and operates with 51–100 employees. The company addresses cancer patients — particularly those with ovarian, uterine serous, lung, renal, and other solid tumors — who do not respond to existing standards of care, as well as select autoimmune, neurological, and bone disease indications through its earlier-stage pipeline.

The company's product portfolio is anchored by its proprietary FIND-IO (Functional, Integrated, NextCure Discovery in Immuno-Oncology) discovery platform, which uses function-based screening of primary human immune cells to identify novel cell-surface targets and differentiated antibody therapeutics. The lead clinical asset is SIM0505, an antibody-drug conjugate targeting CDH6 with NextCure's proprietary CPT116 topoisomerase 1 inhibitor payload; SIM0505 is co-developed with Simcere Zaiming, has FDA Fast Track Designation for platinum-resistant ovarian cancer, and demonstrated a 55% overall response rate in heavily pretreated Phase 1 patients (52.9% in ovarian, 66.7% in uterine serous carcinoma). Additional pipeline assets include LNCB74 (B7-H4 ADC, Phase 1), NC410 (LAIR-1 immunomedicine in combination with pembrolizumab), NC525 (LAIR-1 antibody for AML), NC605 (Siglec-15 antibody for bone disorders), and NC181 (APOE4 antibody for Alzheimer's disease).

NextCure is pre-revenue with no approved products; its anticipated revenue model is built on future drug commercialization combined with upfront payments, milestones, and royalties from out-licensing and co-development arrangements such as the Simcere Zaiming SIM0505 partnership. Capital is sourced through public equity markets and capital raises, including a $21.5 million PIPE financing closed in November 2025, which management has indicated extends the cash runway into the first half of 2027. Go-to-market activity is concentrated on scientific conference presentations (e.g., ASCO), SEC filings and investor relations communications, and partnership-driven commercialization rather than direct sales.

Name

NextCure

Legal name

NextCure, Inc.

Website

https://nextcure.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

NextCure is a clinical-stage biopharmaceutical company developing next-generation immuno-oncology antibody-drug conjugates and monoclonal antibodies, discovered via its proprietary FIND-IO platform, for cancer and select other disease patients underserved by existing therapies.

Ownership category

akta.pro rank

Product category

Immuno-Oncology Therapeutics (Antibody-Drug Conjugates and Monoclonal Antibodies)

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB)

akta.pro secondary industries

Antibody-Drug Conjugates (ADCs) & Antibody Conjugates (HLAAAAAE), Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation) (HLAAAIAI)

Keywords

• Immuno-oncology therapeutics
• Antibody-drug conjugates
• Oncology drug discovery
• Biopharmaceutical pipeline development
• Cancer immunotherapy research

Headquarters

HQ city

Beltsville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Pre-revenue / Future Drug Commercialization: NextCure is a clinical-stage biopharmaceutical company and is currently pre-revenue. Any future revenue would come from commercialization of approved drug products (oncology therapeutics) generated through its internal pipeline.
2. Licensing / Partnership Royalties: Anticipated future revenue from out-licensing and co-development arrangements (e.g., SIM0505 with Simcere Zaiming), including upfront payments, milestone payments, and royalties on partnered programs.
3. Equity / PIPE Financing (Capital Raising): $21.5 million PIPE financing completed in November 2025 with placement agent H.C. Wainwright & Co. and investors including Ikarian Capital, Squadron Capital Management, Affinity Healthcare Fund, and Exome Asset Management; this represents capital inflow rather than operating revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels4 records

Core offering

NextCure is a clinical-stage biopharmaceutical company that discovers and develops investigational immuno-oncology therapies, principally antibody-drug conjugates (ADCs) and monoclonal antibodies, for the treatment of cancer and other diseases. Its lead clinical assets are SIM0505 (CDH6-targeted ADC with proprietary topoisomerase 1 inhibitor payload CPT116) and LNCB74 (B7-H4-targeted ADC), supplemented by earlier-stage programs NC410, NC525, NC605, and NC181. All candidates are generated and characterized using the company's proprietary FIND-IO discovery platform, and commercialization is pursued through a combination of internal clinical development and strategic partnering/co-development arrangements with pharmaceutical and biotechnology companies.

Product overview

NextCure is a clinical-stage biopharmaceutical company offering a portfolio of investigational immunomedicines and antibody-drug conjugates (ADCs) rather than a single unified software product. Its pipeline is anchored by two lead ADCs — SIM0505 (CDH6-targeted, in Phase 1 for platinum-resistant ovarian cancer with FDA Fast Track Designation) and LNCB74 (B7-H4-targeted, in Phase 1) — and four earlier-stage monoclonal antibody programs available for partnering: NC410 (LAIR-1 immunomedicine in a Phase 1 pembrolizumab combo), NC525 (LAIR-1 antibody for AML), NC605 (Siglec-15 antibody for bone diseases), and NC181 (APOE4 antibody for Alzheimer's). All pipeline assets are discovered and developed using NextCure's proprietary FIND-IO (Functional, Integrated, NextCure Discovery in Immuno-Oncology) discovery platform, which applies functional screening in primary human immune cells to identify novel targets that restore anti-tumor immunity. The company pursues strategic partnering for late-stage clinical assets and other novel FIND-IO-derived targets with collaborators having ADC linker/payload technologies.

Differentiator

Problem solved

Functional benefit

Brands

• SIM0505: Investigational antibody-drug conjugate (CDH6-targeted ADC with topoisomerase 1 inhibitor payload CPT116) for solid tumors including ovarian, lung, and renal cancers; partnered with Simcere Zaiming.
• LNCB74
• FIND-IOTM
• NC410
• NC525
• NC605
• NC181

Products and services

• SIM0505 SIM0505 is an investigational antibody-drug conjugate that specifically binds to Cadherin-6 (CDH6), a validated tumor target expressed on multiple tumor types including ovarian, lung and renal cancers. It carries a proprietary topoisomerase 1 inhibitor payload (CPT116) designed for broad anti-tumor activity, strong cytotoxicity, high systemic clearance and improved safety, and is in Phase 1 clinical testing in the U.S. and China for solid tumors including platinum-resistant ovarian cancer (with FDA Fast Track Designation for PROC).
• LNCB74 LNCB74 is an investigational antibody-drug conjugate that specifically binds to B7-H4, a validated tumor target expressed on multiple tumor types including many women's cancers (breast, ovarian and endometrial). It has been specifically designed to reduce toxicity while improving tumor killing, with preclinical data showing potent antitumor activity in animal models including those with low B7-H4 expression, and is currently in Phase 1 clinical development.
• NC410 NC410 is a first-in-class immunomedicine designed to block immune suppression mediated by LAIR-1, an immunomodulatory receptor expressed on T cells and myeloid cells. It remodels collagen in the extracellular matrix to enhance T cell infiltration into tumors and is being evaluated in a Phase 1 trial in combination with pembrolizumab for PD-(L)1 refractory patients, with partial responses observed in PD-(L)1 naive ovarian cancer and MSS/MSI-L colorectal cancer.
• NC525 NC525 is an investigational monoclonal antibody that specifically binds to LAIR-1 to induce killing of AML blast cells and leukemic stem cells while sparing normal blood cells, including hematopoietic stem cells. It is in a Phase 1 dose escalation study in acute myeloid leukemia (AML).
• NC605 NC605 is an investigational monoclonal antibody that specifically binds to Siglec-15 (S15) expressed on osteoclasts to inhibit bone breakdown and promote bone formation. It is being developed for osteogenesis imperfecta, a rare bone disease characterized by weak and brittle bones, and other bone disorders such as non-union fractures and osteoarthritis.
• NC181 NC181 is an investigational monoclonal antibody that specifically binds to APOE4, a major risk factor for Alzheimer's disease. It has been designed to reduce amyloid plaques, suppress neuroinflammation and improve blood flow in the brain.
• FIND-IO Technology Platform FIND-IO (Functional, Integrated, NextCure Discovery in Immuno-Oncology) is NextCure's proprietary discovery platform that uses function-based screening approaches to identify novel cell surface molecular interactions driving functional immune responses in the tumor microenvironment. It assesses immune pathways in primary immune cells and established cell lines from immune lineages including T cell subsets, monocytes, macrophage subpopulations, dendritic cells and cancer cell lines, and is being extended beyond oncology into autoimmunity and neurology.

Quantifiable outcome

• SIM0505 Phase 1 overall response rate of approximately 55% across evaluable patients, 52.9% in ovarian cancer, and 66.7% in uterine serous carcinoma.
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Simcere Zaimingflagship / core strategic allianceStrategic or Co-development PartnerCo-development partner for SIM0505, an antibody-drug conjugate targeting CDH6. The collaboration combines NextCure's FIND-IO discovery platform and ADC expertise with Simcere Zaiming's development and commercial capabilities, particularly for China and broader Asia-Pacific markets.

Scale indicators7 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Mersana Therapeutics: Clinical-stage ADC developer with a proprietary platform (Dolasynthen) and pipeline targeting solid tumors, including gynecologic indications. Most directly comparable to NextCure on ADC modality, clinical stage, oncology focus, and pre-revenue status.
• Pyxis Oncology: Clinical-stage ADC and immuno-oncology company developing antibody-drug conjugates and antibody-based therapeutics for solid tumors. Comparable to NextCure in modality (ADC), clinical stage (Phase 1/2), and oncology focus.
• Bolt Biotherapeutics: Clinical-stage immuno-oncology company developing immune-stimulating antibody conjugates (ISACs) that combine tumor-targeting antibodies with immune-stimulatory payloads. Closely comparable to NextCure on immuno-oncology ADC modality and clinical stage.
• MacroGenics: Clinical-stage immuno-oncology company developing monoclonal antibodies and ADCs targeting solid tumors. NextCure CEO Michael Richman was previously EVP/COO at MacroGenics, and the two share antibody-based oncology modality, clinical-stage profile, and immuno-oncology focus.
• CytomX Therapeutics: Clinical-stage oncology company developing conditionally activated antibody therapeutics (Probody platform), including ADCs. Comparable to NextCure on antibody-based oncology modality, clinical-stage status, and proprietary discovery platform strategy.

Emerging players

• Werewolf Therapeutics: Clinical-stage immuno-oncology company developing INDUKINE molecules (tumor-selective immune activation) for solid tumors. Comparable to NextCure on immuno-oncology focus and clinical stage, though its modality is cytokine prodrugs rather than ADCs.
• ProfoundBio: Clinical-stage ADC developer with a proprietary linker-payload platform (including topoisomerase 1 inhibitor payloads) targeting solid tumors. Comparable to NextCure on ADC modality and proprietary payload technology, particularly relevant given NextCure's CPT116 payload.
• Duality Biologics: China-based clinical-stage ADC developer with a proprietary linker-payload platform and a portfolio of oncology ADCs. Comparable to NextCure on ADC modality, proprietary payload strategy, and China oncology partnership ecosystem (overlap with Simcere Zaiming geography).

Broad incumbents

• Daiichi Sankyo: Global pharmaceutical incumbent with the leading ADC franchise (DXd platform; Enhertu, Datroway) and a broad ADC pipeline. Sets the competitive benchmark for differentiated ADCs and is a likely strategic acquirer/partner for companies like NextCure.

Others

• AstraZeneca: Global pharma incumbent with a major ADC franchise built through partnerships and acquisitions (Enhertu via Daiichi Sankyo, Datroway). Comparable as the dominant incumbent in ADC oncology and a potential strategic acquirer of ADC developers like NextCure.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/2004952259761246
• LinkedInlinkedin.com/company/nextcure-inc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds6 records

Investors21 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NextCure