EVEREST MED(01952.HK): Closing Completed for Exclusive Licensing Collaboration with Travere; Upfront Payment of USD112.5 Million
NewTimeSpace News: Everest Medicines Limited (01952.HK) announced the completion of closing under the exclusive licensing and collaboration agreement entered into with Travere Therapeutics, Inc. The licensor will receive an upfront payment of USD112.5 million, and is eligible to receive aggregate development, regulatory and commercial milestone payments of up to USD1.03 billion across a maximum of five indications, as well as tiered royalties based on future annual net sales.
NewTimeSpace News: Everest Medicines Limited issued a voluntary announcement dated 7 July 2026, disclosing that the closing of the exclusive licensing and collaboration agreement with Travere has been finalised.
The closing was effected in accordance with the terms of the agreement. The licensor will obtain an upfront payment of USD112.5 million. It is entitled to total milestone payments of up to USD1.03 billion covering development, regulatory and commercial milestones for up to five indications, plus tiered royalties pegged to thresholds of future annual net sales at rates ranging from high single digits to double digits.
civorebrutinib (also known as EVER001) is a next-generation covalent reversible Bruton’s tyrosine kinase (BTK) inhibitor under global development for renal diseases. BTK serves as a key component of the B-cell receptor signalling pathway, and targeting BTK via small-molecule inhibitors has been validated as an effective therapeutic approach for B-cell-mediated autoimmune diseases.
Travere is a biopharmaceutical company focused on rare diseases, dedicated to identifying, developing and delivering life-transforming therapeutics.
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