TCEHY - Week In Review: Everest In-Licenses An ADC From Immunomedics In $835 Million Agreement A China Record For A Single Asset
Deals and Financings
Everest Medicines II of Shanghai, a company backed by C-Bridge Capital, agreed to pay up to $835 million in upfront and milestone payments for Greater China rights to an Immunomedics (IMMU) antibody-drug conjugate ((ADC)). Sacituzumab govitecan, a clinical stage candidate, is aimed at solid tumor cancers. Everest will make a $65 million upfront payment and will pay an additional $60 million if sacituzumab govitecan is approved in the US to treat triple-negative breast cancer. Everest Medicines said the agreement is a record-setting deal for Greater China rights to a single agent.
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