SHANGHAI, April 19, 2023 /PRNewswire/ -- Everest Medicines (HKEX 1952.HK, "Everest", or the "Company"), a biopharmaceutical company focused on the development, manufacturing and commercialization of innovative medicines and vaccines, announced today that it has signed a Memorandum of Understanding ("MoU") for a strategic partnership with a subsidiary of Shanghai Pharma, SPH Keyuan Xinhua Pharmaceutical Co., Ltd. ("SPH Kyuan"). According to the MoU, Everest and SPH Kyuan will work closely to promote import and channel distribution of XERAVA (eravacycline) in China. SPH Kyuan's leading position in drug import, nationwide distribution network, and modern logistics system will help expand the scale and speed of commercialization of XERAVA to benefit patients and address urgent unmet needs in the country.

XERAVA was approved by the National Medical Products Administration ("NMPA") of China for the treatment of complicated intra-abdominal infections ("cIAI") in adult patients in March 2023, and has been recommended by multiple treatment guidelines in China and globally with its broad bacterial spectrum coverage and high potency against multidrug-resistant bacterial infections. Everest plans to commercially launch XERAVA in mainland China in the third quarter of this year.

"We are very excited to reach a partnership with SPH Kyuan. SPH Kyuan's rich experience in drug import and channel distribution will accelerate the delivery of XERAVA to hospitals and patients in need," said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. "This partnership marks another step towards the successful commercialization of XERAVA, leading our pipeline with at least three more products expected to be approved in the next two years."

"Everest Medicines has very promising market potential in the fields of anti-infectious and renal diseases. We are honored to reach a strategic pact with Everest around XERAVA, which will leverage the strengths of both parties," said Yu Rui, general manager of SPH Kyuan. "We look forward to continued partnership with Everest to bring more novel products to patients in need."

"Drug-resistant bacteria infections is a severe problem both in China and overseas, creating both economic and healthcare burdens, and carbapenem-resistant gram-negative organisms are the focus of global attention. Due to the complex mechanism of carbapenem-resistant gram-negative organisms, it has been challenging to develop new drugs for use in clinical treatment," said Wang Hui, Deputy Director, Chief Physician at the Department of Infectious Diseases, Shanghai Jiao Tong University School of Medicine affiliated Ruijin Hospital, and Chairman-elect of Infectious Diseases Branch of Shanghai Medical Association. "Existing treatment options in China cannot meet clinical needs, and innovative drugs with broad bacterial spectrum coverage and high antibacterial potency such as XERAVA are urgently needed to cope with the challenges from drug-resistant infections".

In addition to XERAVA, Everest is also actively developing other critical innovative treatment options in the infectious disease space, including taniborbactam which we plan to file for NDA in China this year for complicated urinary tract infection, and EVER206, a novel polymyxin derivative with potentially robust safety profile, which is expected to initiate phase III clinical study in the second half of this year.

About XERAVA® (eravacycline)

XERAVA (eravacycline) is a novel, fully synthetic, fluorocycline intravenous antibiotic for the treatment of infections caused by susceptible gram-positive , gram-negative and anaerobic pathogens including those multidrug resistant ("MDR") isolates. XERAVA is currently approved for the treatment of complicated intra-abdominal infections in the US, EU, GB, Singapore, mainland China, Hong Kong and the medicine is currently under review for cIAI in Taiwan region. XERAVA was licensed from Tetraphase Pharmaceuticals, Inc., a wholly owned subsidiary of Innoviva, Inc.

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 in the company's core therapeutic areas of renal diseases, infectious diseases and autoimmune disorders. 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 Related Stocks: HongKong:1952