Everest Medicines (HKG:1952) today announced that it has acquired an exclusive license with Visara, Inc. (Visara), a subsidiary of NovaBridge Biosciences (formally known as I-Mab, and is a company listed on the Nasdaq Global Market trading under the symbol NBP), to secure an exclusive license to develop, manufacture and commercialize VIS-101, in Greater China, Singapore, South Korea and certain Southeast Asian countries.
This collaboration marks Everest’s strategic expansion into ophthalmology, a high-potential “blue-ocean” therapeutic area, further enriching its late-stage product pipeline and strengthening synergies across its core therapeutic portfolio.
Under the assigned exclusive license, Everest Medicines will make an upfront payment of US$7 million (equivalent to approximately RMB49.7 million) and reimburse up to RMB24.0 million for prior expenses; and pay up to US$89.0 million (equivalent to approximately RMB632.0 million) in potential milestones; plus tied royalties on net sales.
“We are pleased to collaborate with Visara. This partnership brings a highly differentiated and commercially attractive asset to Everest’s late-stage product pipeline and marks our entry into ophthalmology, a competitively attractive therapeutic area with significant unmet medical needs,” said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. “Leveraging Everest’s clinical development and commercialization expertise, we look forward to advancing VIS-101, a potential best-in-class bifunctional antibody, towards commercialization in China and across Asia.”
VIS-101 is a novel bifunctional biologic targeting VEGF-A and ANG-2 that is more potent and could potentially provide more durable treatment benefits than existing treatments for patients with wet age-related macular degeneration, diabetic macular edema, and retinal vein occlusion. VIS-101 has completed initial safety and dose-escalation studies in both the United State of America and China, and is currently completing a randomized, dose-ranging Phase 2 study in China. VIS-101 is anticipated to be Phase 3-ready in 2026.
“VIS-101 is anticipated to be second-in-class with best-in-class potential, based on bioengineered, superior target neutralizing capabilities.” said Dr. Emmett T. Cunningham, Jr, Co-Founder and Executive Chairman of Visara.
Globally, the market size for anti-VEGF ophthalmic drugs reached approximately USD 23 billion in 2024 and is projected to exceed USD 40 billion by 2030. In China alone, the prevalent patient population of AMD and DME exceeds 15 million, with around 600,000 new cases each year, yet only about 500,000 patients currently receive treatment. This indicates vast market potential.
Visara is a subsidiary of NovaBridge Biosciences (Nasdaq: NBP), of which Everest Medicines is currently the largest shareholder. “Licensing out Greater China, South Korea and Southeast Asia rights to Everest Medicines is an important step toward streamlining global commercial rights and creating synergy in global clinical development,” said Dr. Sean Fu, Chief Executive Officer of NovaBridge Biosciences. “We are excited to work with Everest Medicines team as a strategic partner.”
Under its “dual-engine” strategy, Everest Medicines has established a commercialization platform anchored by two blockbuster products targeting high-potential markets and powered by the in-house in vivo CAR-T and mRNA therapeutic cancer vaccine platforms. The Company will continue to focus on key therapeutic areas and new growth markets, with ophthalmology as the next growth driver to strengthen synergy across its core portfolio.
Everest’s core product pipeline in rental diseases, infectious diseases, and autoimmune disorders has entered a critical growth stage. NEFECON® and XERAVA® have established sustainable commercial cash flow generation, while VELSIPITY® (etrasimod) is expected to become the company’s next blockbuster product. Everest continues to enhance its innovation capability and long-term competitiveness by leveraging its industry-leading mRNA therapeutic cancer vaccine platform and mRNA in vivo CAR-T platform.
At a recent corporate strategy meeting, Everest Medicines announced plans to in-license more than three high-potential assets within the next 6–12 months, with an aggregate domestic peak sales potential exceeding RMB10 billion. Combined with its existing portfolio, Everest Medicines expects its total domestic peak sales potential to surpass RMB20 billion.