Morrison & Foerster is representing Everest Medicines II Limited, a C-Bridge Capital-backed biopharmaceutical company, in its exclusive collaboration, license and supply agreement with VenatoRx Pharmaceuticals, Inc., to support the development, registration and commercialization of cefepime/VNRX-5133 in parts of Asia.
VenatoRx is a world leader in antibacterial and antiviral drug research and development. Under the agreement, Everest and VenatoRx will collaborate on the global Phase 3 clinical development trials of cefepime/VNRX-5133, an injectable broad-spectrum beta-lactamase inhibitor, with Everest obtaining the exclusive right to develop and commercialize it in Greater China, South Korea and Southeast Asia. VenatoRx will receive up to US$114 million in upfront and milestone payments and additional running royalties.
This partnership closely follows another major collaboration and licensing arrangement that MoFo completed on behalf of C-Bridge Capital and Everest Medicines Limited. In December 2017, MoFo advised on the partnership with Arena Pharmaceuticals for $212 million in upfront and milestone payments to develop and commercialize ralinepag and etrasimod in Mainland China, Taiwan, Hong Kong, Macau, and South Korea.
The MoFo team is led by Hong Kong partner Chuan Sun, with support from associate Alex Cao.