Everest Medicines Announces New Strategic Plans, Reinforcing Transformation into a Fully Integrated Biopharmaceutical Company

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Jan 03, 2023, 03:00 ET

--Focus on renal disease and mRNA platform portfolios--

--Build out commercialization capabilities in preparation for the potential approval and launch of Nefecon and Xerava in China in 2023--

--Leverage both in-house discovery and strategic business development to establish industry leadership and global footprint--

SHANGHAI, Jan. 3, 2023 /PRNewswire/ -- Everest Medicines (HKEX 1952.HK, "Everest"), a biopharmaceutical company focused on the development, manufacturing and commercialization of innovative medicines and vaccines, today announced its strategic plans for the next two years and beyond as the Company progresses to becoming a fully-integrated biopharmaceutical company with expertise and capabilities across the full biotechnology value chain, including proven self-discovery and in-licensing, clinical development, and established manufacturing and commercialization . The Company's renal disease and mRNA platform portfolios, both of which comprise multiple promising early- and late-stage therapeutic candidates, will be Everest's core areas of focus.

"Everest had impressive growth over the past five years, evolving from its successful in-licensing model to developing strong capabilities in both self-discovery and business development, both of which we will continue to leverage as we transition into a fully integrated biopharma company and establish ourselves as an Asia-based industry leader with a global footprint," said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. "In this next phase of corporate growth, we are focused on building commercialization capacities that will enable the successful launch of multiple late-stage assets over the next five years spearheaded by Nefecon."

The potential approval and launch of Nefecon, the Company's lead renal portfolio product candidate, is expected in China in the second half of 2023. China has the world's highest prevalence of primary glomerular disease and IgA nephropathy is the most common glomerular disease with around 5 million patients in the country.

In parallel, the Company aims to initiate clinical trials and file an Emergency Use Authorization application in 2023 in China for its lead mRNA candidate, EVER-COVID19-M1, a bivalent COVID-19 booster. In just under 16 months since its partnership with Providence Therapeutics Holdings Inc., Everest has completed industrial-scale technology transfer, advanced its clinically-validated mRNA platform, and successfully carried out trial production runs at its commercial-scale manufacturing facility in Jiashan, China. In addition to its COVID-19 program, Everest will continue to harness the full potential of its mRNA technology platform to drive development of preventive and therapeutic vaccines against various infectious diseases and cancers.

In addition to the Company's focus on renal diseases and mRNA platform, it is also pursuing several product candidates in the pipeline with best-in-class potential, including Xerava which is also expected to receive NDA approval in 2023, and etrasimod for the treatment of ulcerative colitis.

About Everest Medicines

Everest Medicines is a biopharmaceutical company focused on developing, manufacturing and commercializing transformative pharmaceutical products and vaccines that address critical unmet medical needs for patients in Asian markets. The management team of Everest Medicines has deep expertise and an extensive track record from both leading global pharmaceutical companies and local Chinese pharmaceutical companies in high-quality discovery, clinical development, regulatory affairs, CMC, business development and operations. Everest Medicines has built a portfolio of potentially global first-in-class or best-in-class molecules, many of which are in late-stage clinical development. The Company's therapeutic areas of interest include cardio-renal diseases, autoimmune disorders, and infectious diseases. For more information, please visit its website at www.everestmedicines.com.

Forward-Looking Statements:

This news release may make statements that constitute forward-looking statements, including descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the business operations and financial condition of the Company, which can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, or other factors, some of which are beyond the control of the Company and are unforeseeable. Therefore, the actual results may differ from those in the forward-looking statements as a result of various factors and assumptions, such as future changes and developments in our business, competitive environment, political, economic, legal and social conditions. The Company or any of its affiliates, directors, officers, advisors or representatives has no obligation and does not undertake to revise forward-looking statements to reflect new information, future events or circumstances after the date of this news release, except as required by law.

SOURCE Everest Medicines