Everest Medicines to develop and commercialize VIS-101 in Asia through Visara partnership

Everest Medicines (Stock Code: 1952.HK), a biopharmaceutical company focused on the research, clinical development, manufacturing, and commercialization of innovative medicines, announced that it has entered into an agreement with Visara, Inc. ("Visara") to obtain an exclusive license for the clinical development, production, and commercialization of VIS-101 in Greater China, Singapore, South Korea, and certain Southeast Asian countries. Visara is an affiliate of NovaBridge Biosciences (formerly I-Mab, a company listed on the NASDAQ Global Market under stock code NBP).

Under the exclusive licensing agreement, Everest Medicines will make an upfront payment of $7 million (approximately RMB 49.7 million), reimburse out-of-pocket expenses not exceeding RMB 24 million, and provide potential development and sales milestone payments of up to $89 million (equivalent to approximately RMB 632 million), in addition to potential royalties based on net sales.

VIS-101 is a novel dual-function biologic targeting both VEGF-A and ANG-2, demonstrating superior efficacy compared to first-generation therapies. It holds the potential to provide more durable treatment benefits for patients with wet age-related macular degeneration (wet AMD), diabetic macular edema (DME), and retinal vein occlusion (RVO). VIS-101 has completed initial safety and dose-escalation studies in the United States and China, and is currently undergoing a randomized, dose-ranging Phase II clinical trial in China. It is expected to be ready to advance into Phase III clinical trials by 2026.

Currently, anti-VEGF (vascular endothelial growth factor) therapy serves as the primary treatment for fundus diseases. It works by inhibiting the formation and leakage of abnormal blood vessels in the eye, thereby improving visual function. In 2024, the global market for anti-VEGF ophthalmic drugs reached approximately $23 billion and is projected to exceed $40 billion by 2030. The ophthalmic drug market offers substantial potential. In China alone, the existing and new patient population for wet AMD and DME exceeds 15 million, with approximately 600,000 new cases annually. However, only about 500,000 patients currently receive anti-VEGF treatment, indicating a vast unmet clinical need.