{"id":60601,"date":"2026-03-23T16:23:01","date_gmt":"2026-03-23T08:23:01","guid":{"rendered":"https:\/\/flcube.com\/?p=60601"},"modified":"2026-03-23T16:23:02","modified_gmt":"2026-03-23T08:23:02","slug":"everest-medicines-acquires-etripamil-rights-from-corxel-usd-50-million-deal-for-first-in-class-psvt-nasal-spray-in-greater-china","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=60601","title":{"rendered":"Everest Medicines Acquires Etripamil Rights from Corxel \u2013 USD 50 Million Deal for First\u2011in\u2011Class PSVT Nasal Spray in Greater China"},"content":{"rendered":"\n

Everest Medicines Limited<\/strong> (HKG: 1952<\/a>) has entered into an asset acquisition agreement<\/strong> with Corxel Pharmaceuticals Limited (CORXEL)<\/strong> to secure development, commercialization, and localized production rights<\/strong> for Etripamil nasal spray (US: CARDAMYST)<\/strong> in Greater China<\/strong> \u2013 a USD 50 million transaction<\/strong> that delivers the first FDA\u2011approved acute PSVT therapy in over 30 years<\/strong> to Everest’s cardiovascular portfolio ahead of anticipated NMPA approval in Q3 2026<\/strong>.<\/p>\n\n\n\n

Transaction Overview<\/h2>\n\n\n\n
Item<\/th>Detail<\/th><\/tr><\/thead>
Acquirer<\/strong><\/td>Everest Medicines Limited (HKG: 1952)<\/td><\/tr>
Seller<\/strong><\/td>Corxel Pharmaceuticals Limited (CORXEL)<\/td><\/tr>
Product<\/strong><\/td>Etripamil nasal spray (US trade name: CARDAMYST)<\/td><\/tr>
Territory<\/strong><\/td>Greater China (Mainland China, Hong Kong, Macau, Taiwan)<\/td><\/tr>
Upfront Payment<\/strong><\/td>USD 30 million<\/strong><\/td><\/tr>
Milestone Payment<\/strong><\/td>USD 20 million<\/strong> (upon development milestones)<\/td><\/tr>
Total Consideration<\/strong><\/td>USD 50 million<\/strong><\/td><\/tr>
Rights Acquired<\/strong><\/td>Development, commercialization, localized production<\/td><\/tr>
Assumed Obligations<\/strong><\/td>License\/sub\u2011agreement rights from Corxel’s May 2021 Milestone Pharma deal (excluding certain liabilities)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Product Profile \u2013 Etripamil<\/h2>\n\n\n\n
Attribute<\/th>Specification<\/th>Clinical Advantage<\/th><\/tr><\/thead>
Mechanism<\/strong><\/td>Novel, fast\u2011acting calcium channel blocker<\/strong><\/td>Rapid termination of PSVT episodes<\/td><\/tr>
Formulation<\/strong><\/td>Portable nasal spray<\/strong><\/td>Self\u2011administration at home; eliminates emergency department visits<\/td><\/tr>
Onset<\/strong><\/td>Rapid onset of action<\/strong><\/td>Symptom relief within minutes<\/td><\/tr>
Tolerability<\/strong><\/td>Good safety profile<\/td>Suitable for outpatient\/ambulatory use<\/td><\/tr>
Accessibility<\/strong><\/td>Home\u2011based self\u2011treatment<\/td>High patient convenience; reduced healthcare system burden<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Regulatory Timeline & Market Context<\/h2>\n\n\n\n
Milestone<\/th>Date<\/th>Status<\/th><\/tr><\/thead>
Corxel\u2011Milestone License<\/strong><\/td>May 2021<\/td>Exclusive Greater China rights obtained by Corxel<\/td><\/tr>
FDA Approval<\/strong><\/td>December 2025<\/strong><\/td>First PSVT therapy approved in US in 30+ years<\/strong><\/td><\/tr>
NMPA NDA Acceptance<\/strong><\/td>January 17, 2025<\/td>Under review<\/td><\/tr>
NMPA Approval Expected<\/strong><\/td>Q3 2026<\/strong><\/td>Imminent China market entry<\/td><\/tr>
Everest Acquisition Closing<\/strong><\/td>2026 (anticipated)<\/td>Integration and launch preparation<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Strategic Rationale & Market Impact<\/h2>\n\n\n\n
Dimension<\/th>PSVT Treatment Landscape<\/th>Etripamil Value Proposition<\/th><\/tr><\/thead>
Current Standard<\/strong><\/td>Vagal maneuvers (limited efficacy); emergency department adenosine\/verapamil IV administration<\/td>At\u2011home acute treatment<\/strong> eliminates ED visits; patient\u2011empowered management<\/td><\/tr>
Unmet Need<\/strong><\/td>~2 million PSVT episodes annually in China; 70\u201180% require ED intervention; high patient anxiety and healthcare costs<\/td>Self\u2011administered nasal spray<\/strong> transforms acute episode management paradigm<\/td><\/tr>
Market Opportunity<\/strong><\/td>No approved acute PSVT pharmacotherapy in China; off\u2011label calcium channel blocker use<\/td>First\u2011in\u2011class<\/strong> positioning with 5\u20117 year market exclusivity potential<\/td><\/tr>
Everest Portfolio Fit<\/strong><\/td>Adds cardiovascular\/rare disease asset to infectious disease and oncology focus<\/td>Diversification into high\u2011value acute care; leverages hospital\/GI relationships<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Commercial Outlook<\/h2>\n\n\n\n