[ET Net News Agency, 17 September 2021] Everest Medicines Limited (01952) said Everest
HK, a wholly-owned subsidiary of the company, has entered into the licence agreement with
Sinovent and SinoMab, pursuant to which Sinovent and SinoMab granted Everest HK an
exclusive, sublicensable licence under the licensed technology to develop, manufacture and
commercialize XNW1011 (or SN1011 as referred to by the licensor) and the licensed products
worldwide for all renal diseases or conditions.
The licence fee shall comprise (i) an upfront payment of US$12 million; (ii) development
milestone payments of up to US$129 million in aggregate; and (iii) sales milestone
payments of up to US$420 million in aggregate. (RC)