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Chinese Biotechs' Foray Into mRNA Enters New Chapter With $100m Everest Deal

 
• By Dexter Jie Yan

Everest Medicines’ deal with Canadian biotech Providence Therapeutics contains a full transfer of technology which may be appealing to Chinese regulators.

Chinese biotechs foray into mRNA
Everest the latest Chinese biotech to leap into mRNA fray • Source: Alamy

Shanghai-based Everest Medicines Limited has become the latest Chinese biotech to leap into the mRNA fray through an in-licensing deal with the Canadian biotech Providence Therapeutics Holdings Inc.

Central to the agreement is Providence’s mRNA COVID-19 vaccine candidate PTX-COVID19-B, for which Hong Kong-listed Everest agreed to pay a $100m upfront package in cash, half of which relates to the vaccine and the other half to a 50/50 global collaboration

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