SHANGHAI, CHINA AND NEW YORK, JUNE 25, 2018 (GLOBE NEWSWIRE)

Everest Medicines, a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in China and beyond, today announced that its subsidiary EverNov has entered into an exclusive global licensing agreement to develop and commercialize Novartis’ novel FGFR4 (fibroblast growth factor receptor 4) kinase inhibitor, FGF401.  

FGF401 is being evaluated in Phase I/II clinical trials across the U.S., Europe and Asia as a potential new treatment for hepatocellular carcinoma (HCC) and other solid tumors positive for FGFR4 and KLB (klotho beta) expression. HCC is the most common form of liver cancer. Fibroblast growth factor receptors (FGFRs) play a key role in regulating cell survival and proliferation, and a growing body of evidence suggest they also play a role in cancer progression.  

“We are pleased to collaborate with Novartis, a global leader in the oncology space, to advance the development of FGF401,” said Sean Cao, Ph.D., interim CEO of EverNov and Managing Director of C-Bridge Capital. “This is the fifth product in our growing portfolio of therapies targeting diseases where there is a high unmet medical need among patients in China and worldwide.”  

According to the Centers for Disease Control and Prevention, liver cancer is the fifth most common form of cancer worldwide, with disease rates in Asia approximately 30 percent higher than in the U.S. due in part to untreated hepatitis B infections.  

ABOUT EVERNOV MEDICINES

Everest Medicines is a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in China and beyond. The Everest Medicines team has deep expertise and an extensive track record of high quality clinical development, regulatory affairs, CMC, business development and operations both in China and for leading global pharmaceutical companies. For more information, please visit its website at www.everestmedicines.com.  

ABOUT C-BRIDGE CAPITAL

C-Bridge Capital is a healthcare dedicated private equity firm, focused on growth and late stage investment opportunities. C-Bridge Capital’s current portfolio includes China’s leading players in pharmaceuticals, medical devices, diagnostics and healthcare services. C-Bridge Capital is committed to supporting commercialization of cutting edge technologies and companies that fulfill unmet medical needs, and continuously improving the standard and quality of care for patients.  

CONTACTS

Media in US and Europe:
James Heins
Senior Vice President
ICR Healthcare
(203) 856-2121
james.heins@icrinc.com

Media in China:
Edmond Lococo
Senior Vice President
ICR Asia
+86 (10) 6583-7510
edmond.lococo@icrinc.com

View the press release at Globe Newswire here.