Policy & Regulation
Everest Medicines signs definitive agreements with Providence Therapeutics Holdings
14 September 2021 -

Everest Medicines Limited (HKEX 1952.HK), a biopharmaceutical company, announced on Monday that it has signed two separate definitive agreements with Providence Therapeutics Holdings Inc, a clinical stage biotechnology company developing messenger RNA therapeutics and vaccines.

The contracts have been signed to license rights to Providence's mRNA COVID-19 vaccine candidates in Asia emerging markets, including Greater China, Southeast Asia and Pakistan, and collaborate to develop mRNA products globally using Providence's mRNA technology platform.

According to the terms of the contracts, Everest has received 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.

Presently, PTX-COVID19-B, Providence's lead mRNA COVID-19 vaccine candidate, is in Phase two clinical trials, and has shown that it is generally safe and well tolerated and that the PTX-COVID19-B dosed patients have high neutralisation titers against the original strain of SARS-CoV-2 (G614) in an S protein-typed pseudovirus assay. All patients developed neutralising antibodies after the first dose and the levels raised over 10-fold after the second dose. Both firms will also sign a 50/50 global collaboration under which the firms will develop two additional prophylactic or therapeutic products. Everest and Providence will jointly own global rights to Collaboration Products.