Everest Medicines Enters into Agreement with Calliditas Therapeutics, Expanding Territory License to Develop and Commercialize NEFECON in South Korea
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Monday, March 14, 2022
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SHANGHAI, March 13, 2022 /PRNewswire/ -- Everest Medicines (HKEX 1952.HK), a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products to address critical unmet needs in Asia Pacific markets, announced today that it has entered into a license agreement with Calliditas Therapeutics AB (Nasdaq: CALT, Nasdaq Stockholm: CALTX) to develop and commercialize NEFECON for the treatment of primary IgA nephropathy (IgAN) in South Korea, expanding its license in addition to rights held in Greater China and Singapore. The deal signals the Company's latest efforts to further enhance its international commercial footprint.
Key Points:
- "South Korea's sophisticated healthcare model enables innovative medicines such as NEFECON to have a higher potential likelihood of healthcare coverage once approved.
- Under the terms of the agreement, Calliditas receives an initial upfront payment of USD$3 million at signing of the agreement.
- In June 2019, Everest Medicines entered into an exclusive, royalty-bearing license agreement with Calliditas, which gives Everest Medicines exclusive rights to develop and commercialize NEFECON in Mainland China, Hong Kong, Macau, Taiwan and Singapore.
- The agreement was extended in March 2022 to include South Korea as part of Everest Medicine's territories.