Everest Med and Providence partner on COVID-19 and mRNA vaccines in Asia
China’s Everest Medicines (HK: 1952) today announced two separate definitive agreements with Canadian mRNA-focussed biotech firm Providence Therapeutics Holdings, which could earn the latter as much as $500 million, with the news pushing Everest’s shares up 6.5% to HK$60.45.
Everest will: (i) license rights to Providence’s mRNA COVID-19 vaccine candidates in Asia emerging markets, including Greater China, Southeast Asia and Pakistan, and (ii) establish a broad, strategic partnership to develop mRNA products globally leveraging Providence’s cutting-edge mRNA technology platform (“mRNA Platform”).
Everest will gain rights to Providence’s mRNA COVID-19 vaccines in Greater China, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Pakistan, Philippines, Singapore, Thailand, Timor-Leste and Vietnam (collectively, Everest Territories) through the deal.
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