Everest Medicines Acquires Exclusive Rights to Novel Biologic for Eye Disorders
Everest Medicines has acquired an exclusive license to develop and commercialize VIS-101, a novel bifunctional biologic for serious eye disorders, in Greater China and other Asian countries.
Collaboration Details
The license was acquired from Visara, Inc., a subsidiary of NovaBridge Biosciences, listed on the Nasdaq Global Market. The agreement includes an upfront payment of US$7 million and reimbursement of up to RMB24.0 million for prior expenses.
This collaboration marks Everest’s strategic expansion into ophthalmology, a high-potential therapeutic area.
Terms of the Agreement
- Exclusive license to develop, manufacture, and commercialize VIS-101 in Greater China, Singapore, South Korea, and certain Southeast Asian countries
- Upfront payment of US$7 million (approximately RMB49.7 million)
- Reimbursement of up to RMB24.0 million for prior expenses
- Potential payments of up to US$89 million
Author's summary: Everest Medicines expands into ophthalmology with VIS-101 license.
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