Everest Medicines expands China commercialization, product pipeline with new agreements

Everest Medicines Limited has announced a Commercialization Service Agreement and a License Agreement, both effective December 11, 2025. Under the Commercialization Service Agreement, a wholly-owned subsidiary will provide CSO Services for products in the PRC. Annual caps for transaction amounts payable by Hasten to the Subsidiary are projected at RMB560 million for 2026, RMB616 million for 2027, and RMB677 million for 2028. The service fees are calculated by multiplying net sales by a rate of 20% to 55%, with adjustments based on sales performance.

The License Agreement grants Everest Medicines' subsidiary a non-transferable, exclusive license to develop and commercialize Lerodalcibep (LIB003) in the Territory. The fee structure includes an initial payment of $29 million, potential development and regulatory milestone payments up to $30 million, and sales milestone payments up to $280 million. Additionally, Everest Medicines has appointed Xin Sun as a non-executive director, effective December 11, 2025. Mr. Sun is currently a managing director and co-head of Private Equity Investment at CBC Group, a substantial shareholder.