Everest Medicines Signs Share Purchase Agreement with Hasten Biopharmaceuticals (Asia) Limited
- Accelerates Asia Pacific expansion by acquiring a ready-built regional commercial platform with 14 marketed chronic disease products
- Aggregate consideration of USD250,000,000 (approximately RMB1,721,650,000), payable in three installments
- Delivers near-term revenue and profitability with 2025 normalized revenue of US$82,232,000 (approximately RMB566,299,000) with an EBITDA of US$27,273,000 (approximately RMB187,818,000).
- Strong synergies with Everest's existing portfolio and enhances Everest's position as a regional partner of choice for Chinese and global innovative assets
SHANGHAI, April 8, 2026 /PRNewswire/ -- Everest Medicines (HKEX 1952.HK, "Everest", or the "Company"), a biopharmaceutical company focused on the discovery, clinical development, manufacturing, and commercialization of innovative therapeutics, today announced that its wholly-owned subsidiary, EverSea Medicines (Singapore) Pte. Ltd., has entered into a Share Purchase Agreement with Hasten Biopharmaceuticals (Asia) Limited to conditionally acquire the entire equity interest in its wholly-owned subsidiary, Hasten Biopharmaceuticals (SG) Pte. Ltd.
The Acquisition will complement the Company's existing pipeline, unlock significant synergies between its product portfolio and commercialization capabilities, strengthen its business profile, deepen its presence in strategically aligned markets, and further expand its scale and breadth of its business across the Asia Pacific region.
According to the agreement:
- The aggregate consideration is USD250,000,000 (approximately RMB1,721,650,000), payable in three installments. The first installment of USD150,000,000 (approximately RMB1,032,990,000), representing 60% of the consideration, payable at Closing, subject to the satisfaction or waiver of the conditions precedent to Closing. The second and third installments of USD50,000,000 each (approximately RMB344,330,000 each), representing 20% of the consideration respectively, are expected to become due and payable during the first quarter of 2028 and the first quarter of 2029, respectively, subject to the satisfaction or waiver of the conditions precedent applicable to each installment.
- The refundable deposit of RMB200,000,000 paid in accordance with the terms of the Letter of Intent shall be fully repaid by Hasten Biopharmaceuticals (Asia) Limited to the Company within 10 days after the Closing.
- Upon Closing, Hasten Biopharmaceuticals (SG) Pte. Ltd. will become an indirect wholly-owned subsidiary of the Company and its financial results will be consolidated into the Company's financial statements.
The Acquisition includes the Marketing Authorization Holder (MAH) rights, trademark and broad commercial rights for 14 branded chronic disease products owned by Hasten Biopharmaceuticals (SG) Pte. Ltd. across multiple countries and regions in the Asia Pacific region. For the financial year ended 31 December 2025, Hasten Biopharmaceuticals (SG) Pte. Ltd. recorded a normalized revenue of US$82,232,000 (approximately RMB566,299,000) with an EBITDA of US$27,273,000 (approximately RMB187,818,000).
Hasten Biopharmaceuticals (SG) Pte. Ltd. is principally engaged in the commercialization of prescription pharmaceutical products, with a strategic focus on chronic diseases and acute/critical care, particularly in the cardiovascular and metabolic segments. It has established a mature pan-Asia-Pacific commercialization platform supported by an experienced local team of approximately 120 dedicated field forces. With over 2 billion people in the core Asia Pacific market, the Asia Pacific region has a large and growing patient base and continues to face substantial unmet medical needs, particularly in chronic disease management.
Everest's product pipeline is focused on chronic disease therapeutic areas, including CKM (cardiovascular, kidney, and metabolic diseases), and the Company has established a leading innovative drug commercialization platform for chronic diseases in China. Beyond Mainland China, the Company's commercialized products, including NEFECON®, VELSIPITY® and XERAVA®, are progressing through new drugs application (NDA) approvals and reimbursement processes in authorized Asian markets. The Acquisition is expected to accelerate the commercialization of the Company's existing products in Asian markets, support a faster ramp-up in overseas revenue contribution, and represent an important step in the Company's broader regional expansion strategy.
The Company also believes that the coming years may represent an important window of opportunity for the accelerated adoption of innovative Chinese medicines into the Asia Pacific region. Chinese innovation is becoming increasingly competitive in clinical value, affordability and accessibility, with growing alignment to the needs of healthcare systems and patients across the region. At the same time, regulatory pathways, market access frameworks and awareness of innovative therapies continue to improve. In such an environment, long-term success will depend not only on the quality of product assets, but also on the ability to build localized capabilities across regulatory, market access, medical affairs and commercialization which would create a competitive advantage for the Company in this growing region.
Everest Medicines is committed to becoming a leading global biopharmaceutical company in Asia. This acquisition would enable the Company to extend into the Asia Pacific region the commercialization capabilities it has already built and validated in China. This would allow the Company to strengthen its regional footprint, accelerate market entry and execution for both existing and future products, and build the infrastructure and local know-how required to support broader overseas expansion over time.
About Everest Medicines
Everest Medicines is a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative pharmaceutical products that address critical unmet medical needs for patients in global markets. The management team of Everest Medicines has deep expertise and an extensive track record both in China and with leading global pharmaceutical companies.
The Company's therapeutic areas of focus include CKM (cardiovascular, kidney, and metabolic), autoimmune, ophthalmology and critical care. Everest Medicines has developed a fully integrated commercialization platform that combines omnichannel commercial capabilities with end-to-end product lifecycle management. Leveraging its proprietary mRNA platform, the Company is advancing its existing pipeline, including mRNA in vivo CAR-T and mRNA cancer vaccines, while selectively expanding into additional high-value therapeutic areas with blockbuster potential, and accelerating its global expansion. For more information, please visit the Company's website: www.everestmedicines.com.
About Hasten Biopharmaceuticals (Asia) Limited and Hasten Biopharmaceuticals (SG) Pte. Ltd.
Hasten Biopharmaceuticals (Asia) Limited is a company incorporated in the Cayman Islands with limited liability and is principally engaged in investment holding.
Hasten Biopharmaceuticals (SG) Pte. Ltd. is a company incorporated in Singapore with limited liability and principally engaged in commercialization of prescription pharmaceutical products with strategic focus on chronic diseases and acute/critical care areas, in particular in the cardiovascular and metabolism segments. Hasten Biopharmaceuticals (SG) Pte. Ltd. holds the asset rights, including Marketing Authorization Holder (MAH) rights, trademark and broad commercial rights for 14 branded chronic disease products across multiple countries and regions in the Asia Pacific region.
Forward-Looking Statements:
This news release may make statements that constitute forward-looking statements, including descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the business operations and financial condition of the Company, which can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, or other factors, some of which are beyond the control of the Company and are unforeseeable. Therefore, the actual results may differ from those in the forward-looking statements as a result of various factors and assumptions, such as future changes and developments in our business, competitive environment, political, economic, legal and social conditions. The Company or any of its affiliates, directors, officers, advisors or representatives has no obligation and does not undertake to revise forward-looking statements to reflect new information, future events or circumstances after the date of this news release, except as required by law.
SOURCE Everest Medicines
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