Chinese biotech Everest signs $550M+ licensing deal for BTK inhibitors on heels of Covid-19 pact
Everest Medicines is on a roll with two licensing deals in one week.
The Shanghai-based biotech has paid Sinovent and SinoMab $12 million upfront for the rights to a BTK inhibitor for renal diseases, the company announced Thursday. The deal comes just days after Everest came away with rights to a Covid-19 vaccine in China, Taiwan, Singapore, Thailand and Indonesia.
Everest will pay Sinovent and SinoMab up to $549 million in milestone payments and royalties. The agreement includes tech transfer of Sinovent and SinoMab’s manufacturing process for the candidate, named XNW1011.
The BTK inhibitor has finished a Phase I study in China so far. Chronic kidney disease, Everest CEO Kerry Blanchard said in a press release, is a problem worldwide, and B cell abnormalities can affect a number of diseases that have a high prevalence in Asia.
“We are impressed by the data generated from XNW1011 (or “SN1011″) to date and are committed to moving this compound quickly into phase 2 studies to explore a number of renal diseases, of which represent a few global first-in-disease opportunities for Everest,” he said. “This important partnership with Sinovent and SinoMab not only solidifies Everest’s leadership in developing novel therapies to combat renal disease, but also underscores our transition to developing novel therapies for the global market by leveraging the vast patient population in Greater China and Asia.”
This week, the company paid $100 million upfront to Providence Therapeutics, and could pay up to $400 million more for its mRNA-based Covid-19 vaccine. Everest will also gain the rights to any future Covid-19 vaccine candidates that are designed for a specific variant, which are currently in the preclinical stage.
Aside from XNW1011, Everest has two drugs in its pipeline for cardio-renal disease: Nefecon for the treatment of IgA nephropathy, and Ralinepag for pulmonary arterial hypertension. In total, there are nine candidates in the company’s pipeline, seven of which are either in Phase III trials or have a biologics license agreement submitted.
SinoMab’s flagship candidate SMO3 targets CD22 to treat rheumatoid arthritis, and is currently in Phase III trials in China. Sinovent’s focus area is in oncology, and metabolic and infectious diseases.