Singapore, Oct. 31 -- Everest Medicines, a biopharmaceutical company focused on the discovery, clinical development, manufacturing, and commercialisation of innovative therapeutics, has acquired an exclusive license with Visara, Inc., a subsidiary of NovaBridge Biosciences (formerlyknown as I-Mab), to secure an exclusive license to develop, manufacture and commercialise VIS-101, inGreater China,Singapore,South Koreaand certain Southeast Asian countries.

Under the assigned exclusive license, Everest Medicines will make an upfront payment of$7 million(equivalent to approximatelyRMB49.7 million) and reimburse up toRMB24.0 millionfor prior expenses; and pay up to$89 million(equivalent to approximatelyRMB632.0 million) in potential milestones...