By Fineline Cube 
China-based Everest Medicines (HKG: 1952) announced today the completion of a share placement of 22,561,000 shares, raising approximately HK$1.5725 billion. The placed shares represent approximately 6.87% of the company’s existing share capital.
Funds Allocation
The company plans to allocate the net proceeds as follows:
- 50% (approximately HK$776.7 million) will be dedicated to developing its proprietary global R&D platform and new product pipeline.
- 40% (approximately HK$621.4 million) will support the commercialization of new products, including new product launches.
- 10% (approximately HK$155.3 million) will be used for working capital and general and administrative purposes.
Innovative AI+mRNA Platform
Everest Medicines has established a leading, fully integrated, and localized AI+mRNA platform. This platform focuses on advancing product pipeline development in oncology and autoimmune diseases. Key projects include the universal off-the-shelf therapeutic cancer vaccine EVM14, the individualized therapeutic cancer vaccine EVM16, and an in-situ CAR-T project.-Fineline Info & Tech