Everest Acquires China Rights to Tetraphase's Antibiotic in $23.5 Million Deal

Everest Medicines, a US-China startup, in-licensed greater China rights to an antibiotic for serious multi-drug resistant infections from Boston's Tetraphase Pharma. Everest made a $7 million upfront payment and will pay up to $16.5 million in regulatory milestones. It is also responsible for annual sales milestones of as much as $20 million. Formed last year, Everest is backed by a $50 million investment from C-Bridge Capital, a capital contribution that was described as the first tranche of a $130 million initial round. More details.... Stock Symbol: (NSDQ: TTPH) Share this with colleagues: // //