By Fineline Cube 
Hong Kong‑listed Everest Medicines Limited (HKG: 1952) today announced a strategic agreement with Visara, Inc., a subsidiary of NovaBridge Biosciences (formerly I‑Mab, Nasdaq: NBP). Under the deal, Visara irrevocably granted Everest an exclusive license to develop, manufacture, and commercialize the bifunctional biologic VIS‑101 in Greater China, Singapore, South Korea, and selected Southeast Asian markets.
Terms and Financial Commitments
Everest’s payment structure includes an upfront fee of USD 7 million (≈ RMB 49.7 million) plus a reimbursement cap of up to RMB 24 million for eligible out‑of‑pocket expenses. In addition, the company faces up to USD 89 million (≈ RMB 632 million) in development and sales milestone payments, along with future net‑sales royalties once VIS‑101 reaches commercial availability.
VIS‑101: A Next‑Generation, Dual‑Targeted Ocular Therapeutic
VIS‑101 is a novel bifunctional antibody that simultaneously inhibits vascular endothelial growth factor‑A (VEGF‑A) and angiopoietin‑2 (ANG‑2). Preclinical data suggest this dual blockade yields higher potency and potentially longer‑lasting benefits for patients with wet age‑related macular degeneration (AMD), diabetic macular edema (DME), and retinal vein occlusion (RVO) than first‑generation agents.
Clinical Milestones
The biologic has completed initial safety and dose‑escalation studies in both the United States and China. A randomized, dose‑range Phase 2 trial is now concluding in the Chinese market, with the company targeting Phase 3 readiness by 2026—a critical step toward regulatory approval and market entry in the region.
Market Implications
The East Asian ophthalmology landscape represents a substantial opportunity, with projected spend on anti‑VEGF therapies reaching $5 billion over the next decade. Everest’s exclusive foothold on VIS‑101, coupled with a robust development pipeline, positions it to capture a significant share of this high‑value segment, potentially reshaping the competitive hierarchy that currently favors established players such as Roche, Regeneron, and Janssen.
Investor Perspective
Everest’s agreement underscores a disciplined expansion strategy that blends scientific innovation with clear financial architecture. The upfront and milestone payments provide a predictable cash‑flow profile, while the royalty upside offers long‑term upside potential. Market watchers should monitor Phase 2 outcomes, regulatory feedback, and the speed of regulatory approvals across the territories outlined in the license to gauge the eventual commercial trajectory of VIS‑101.-Fineline Info & Tech