Everest Medicines (HKEX 1952.HK) announced the closing of its previously announced exclusive licensing and collaboration agreement with Travere Therapeutics, Inc. (NASDAQ: TVTX) for the development and commercialization of civorebrutinib (also known as EVER001), a potential best-in-class oral, covalent reversible Bruton’s tyrosine kinase (BTK) inhibitor in the U.S. and global markets excluding Greater China and certain countries in East and Southeast Asia.
Under the terms of the agreement, Everest will receive an upfront payment of $112.5 million from Travere Therapeutics after the closing of the transaction. Everest is also eligible to receive up to approximately $1.03 billion in additional cash payments tied to specified clinical development, regulatory and commercial milestones across up to five indications. Travere will also pay tiered royalties on future sales in its licensed territories, ranging from high single-digit to double-digit percentages based on annual net sales thresholds.
Everest Medicines has accelerated its expansion in renal and autoimmune diseases across the Asia-Pacific region through its dual-engine strategy of “BD collaboration and in-house R&D”. By securing MT1013, DMX-200, and Bejescin®, Everest Medicines has expanded its renal portfolio beyond IgA nephropathy into membranous nephropathy, focal segmental glomerulosclerosis (FSGS), and complications of chronic kidney disease (CKD). Together with its core product NEFECON®, these assets are expected to generate significant clinical and commercial synergies. The latest progress of EVER001 further validates Everest’s in-house R&D capabilities, marking an important milestone in Everest’s evolution from in-licensing toward global innovation and strategic out-licensing.
As a strategic pipeline asset, EVER001 has attracted strong investor interest with its differentiated therapeutic profile. The partnership further expands Everest Medicines’ global partnership strategy for innovative assets. Combined with its ongoing in-licensing efforts, expanding pipeline and commercialization capabilities, Everest Medicines is well-positioned to strengthen its long-term competitiveness and drive sustainable growth.