SHANGHAI, Aug. 24, 2022 /PRNewswire/ — Everest Medicines (HKEX: 1952.HK), a biopharmaceutical company dedicated to developing transformative pharmaceutical products for critical unmet needs in the Asia Pacific region, has announced its interim results for the first half of 2022 alongside a corporate progress update.

In the first half of 2022, Everest made substantial strides across its business and therapeutic areas, advancing clinical and regulatory developments within its diverse pipeline. The company has bolstered its self-discovery capabilities and expanded significant partnerships. With the recent strategic sale of rights to Trodelvy in Asia, Everest has strengthened its capital structure, positioning itself to accelerate the development of key assets with first-in-class or best-in-class potential. This progress is expected to enhance internal discovery efforts and explore business development opportunities, ultimately aiming to maximize patient impact and deliver sustained long-term value for shareholders.

Product Highlights and Milestones:

NEFECON (TarpeyoTM)
A novel oral formulation of budesonide (budesonide delayed-release capsules) aimed at treating primary immunoglobulin A nephropathy (IgAN).

Development Achievements:

In March 2022, Everest signed a license agreement with Calliditas to develop and commercialize NEFECON for IgAN in South Korea, expanding its licensing beyond Greater China and Singapore. This agreement underscores the company’s commitment to broadening its international commercial presence.
In April 2022, it was reported that treatment with NEFECON in a Chinese subpopulation led to a reduction in proteinuria and stabilization of eGFR after nine months, aligning with topline results from the pivotal global Phase 3 trial NefIgArd, as announced by Calliditas Therapeutics in November 2020.
Future Milestones:

In July 2022, Calliditas received conditional marketing authorization from the European Commission for Kinpeygo® (developed under the name NEFECON) for treating IgAN in adults at risk of rapid disease progression with a urine protein-to-creatinine ratio (UPCR) ≥ 1.5 g/gram.
Everest anticipates filing a New Drug Application (NDA) for NEFECON in China in the second half of 2022.
Etrasimod
A once-daily, oral selective sphingosine 1-phosphate (S1P) receptor modulator designed for the treatment of moderately-to-severely active ulcerative colitis (UC).

Everest Medicines continues to focus on leveraging its innovative pipeline and partnerships to deliver meaningful solutions for patients and generate long-term shareholder value. The company remains committed to addressing critical healthcare needs in the Asia Pacific markets.